The Olkiluoto nuclear power plant, operated by Teollisuuden Voima (TVO), experienced an interruption in electricity production due to a fault detected in the turbine plant. TVO announced that the estimated end time for the turbine plant fault is Wednesday at 01 am, with production power expected to gradually increase after that. Pekka Salomaa, director responsible for the energy market at the Energy Industry Association, expects that the outage of OL3 will lead to an increase in the price of electricity.
As a result of the interruption, Finland was dependent on imported electricity on Monday morning, with Sweden and Norway’s hydropower making up for the shortfall. The fault in OL3 came as a surprise, as the plant had been running without problems until then. It is uncertain when production will resume, and the timing depends on the nature of the fault and the repair estimate.
OL3 is of great importance in stabilizing the price of electricity in Finland, and its fault came at a time when the country is experiencing an intensifying frost with no support for wind power. This is expected to lead to a rise in spot prices, with hourly prices for Tuesday’s stock electricity to be determined at 2 p.m.
Finland’s reliance on imported electricity increased significantly on Monday morning due to an unexpected fault in one of its nuclear power plants (OL3). The turbine plant operated by Teollisuuden Voima (TVO) experienced an interruption in electricity production which caused Finland’s energy system to become unbalanced. As a result, Sweden and Norway’s hydropower made up for