Operating the Olkiluoto nuclear power plant Teollisuuden Voima (TVO) announced on Sunday evening that the electricity production of the triple reactor (OL3) had been interrupted due to a fault detected in the turbine plant.
On Monday morning, TVO published a new market message, in which the estimated end time of the turbine plant fault is Wednesday at 01 am. Until Tuesday at 12 o’clock, the production power of the reactor will be zero megawatts, but already after that the power will gradually increase.
“There is essentially less to offer when OL3 is out of the game. It increases the price of electricity”, he estimates Energy Industry Association:n the director responsible for the energy market Pekka Salomaa.
On Monday morning, Finland was dependent on imported electricity. “Sweden and Norway’s hydropower makes up for the shortfall, and very little electricity is now exported to Estonia.”
According to the intraday data of Nordpool’s internal trade, trades were made in the morning at a price of a little over one hundred megawatt hours, when there was a desire to buy more electricity for certain hours.
If the fault continues for longer, the situation is unfortunate for the market, says the energy company The being portfolio manager Risto Kinnunen.
“This is a surprise [vika] of course it came, when you take into account that the plant has been running without problems since spring until today. There have only been planned outages, not unexpected ones.”
“Since the nature of the fault and the repair estimate are not yet known, the timing of the resumption of production is uncertain for the time being.”
According to Kinnusen, OL3 is of great importance in stabilizing the price of electricity in Finland. In the beginning of the week, the frost is gradually intensifying, and there is no support for wind power this week.
Kinnunen also predicts that spot prices will rise.
The hourly prices for Tuesday’s stock electricity will be determined today at 2 p.m., and offers must be submitted in Nordpool no later than 1 p.m.