The Olkiluoto 3 nuclear power plant experienced a turbine malfunction on Monday, resulting in the interruption of its electricity production. An investigation into the fault is currently underway. In response, grid company Fingrid started backup power plants to maintain the balance of electricity supply.
The Olkiluoto 1 nuclear power plant was also not operational due to annual maintenance that was delayed further due to a generator failure. Additionally, the transmission capacity of the cross-border electricity connection between Northern Finland and Sweden was reduced in the summer due to maintenance and construction work on power lines. This reduction in capacity has resulted in an expected maximum price of 25 cents tax-free per kilowatt hour during daytime hours in Finland for the following day.
Risto Kinnunen, portfolio manager of an energy service company, warned that expensive hours were approaching due to decreased supply. Although it is expected that the Olkiluoto 3 plant will resume production tomorrow, if the fault persists, there may be challenges with electricity supply. Recent high electricity prices in Finland have been attributed to low wind availability and limitations on electricity transmission capacity. The maintenance work on transmission lines is expected to continue until the end of June, potentially leading to moderately expensive electricity prices during daytime hours in Finland.
Despite these challenges, efforts are being made to address them and ensure a stable electricity supply in the coming days. TVO expects this unexpected disruption to be costly as they had to purchase additional production from the regulation market at a higher price due to their own interruption in production.
In summary, TVO announced an interruption of electricity production at their Olkiluoto 3 nuclear power plant due to a turbine malfunction while also experiencing delays on annual maintenance at their Olkiluoto 1 plant and reduced transmission capacity across borders due to construction work on power lines. Efforts are being made by both TVO and Fingrid
!role~Preview!mt~photo!fmt~JPEG%20Baseline)
