The Olkiluoto nuclear power plant, operated by Teollisuuden Voima (TVO), experienced an interruption in electricity production due to a fault discovered in the turbine plant. TVO announced that the estimated time of completion of the turbine plant failure is Wednesday at 01:00 a.m., and production power is expected to gradually increase thereafter. According to Peka Salomaa, director in charge of the energy market at the Energy Industry Association, this outage will lead to an increase in the price of electricity.
On Monday morning, Finland was dependent on imported electricity from Sweden and Norway to make up for the shortfall caused by the OL3 outage. The failure occurred unexpectedly, as the plant had been operating without issues until then. The timing of production resumption is uncertain and depends on the nature of the failure and repair estimates.
OL3 plays a crucial role in stabilizing the price of electricity in Finland, and its failure coincided with a period when severe frost was affecting the country without wind farm support. This has led to an increase in spot prices, and exchange electricity hourly prices on Tuesday will be determined at 2 p.m.