TVO and Nuclear Waste Management at Olkiluoto. Corporate Adviser

Transcription

1 Olkiluoto, 28 October 2008 TVO and Nuclear Waste Management at Olkiluoto Corporate Adviser

2 Nuclear Power Plants in Finland Olkiluoto OL1 BWR 860 MW 1979 OL2 BWR 860 MW 1982 Population 5.3 million Power Demand 90 TWh/a Loviisa LO1 PWR 488 MW 1977 LO2 PWR 488 MW 1981 Olkiluoto Loviisa Helsinki 2

3 Electricity Supply by Energy Sources in 2007 Source: Finnish Energy Industries

4 TVO - Teollisuuden Voima Oyj Company Privately owned generating company Established in 1969 Personnel about 700, annual turnover about million 230 Produces electricity only to the shareholders at cost basis Existing Nuclear Power Plant Units (Olkiluoto 1 and 2) 2 x 860 MW, BWR, Westinghouse Atom Commercial operation in 1979 and 1982 Modernization and upgrade in several stages from 660 to 860 MW New Nuclear Power Plant Unit (Olkiluoto 3) 1,600 MW, PWR, Areva NP/Siemens consortium Commercial operation in 2011 Other Power Plants 257 MW stake in 565 MW coal condensing unit 1 MW wind mill in Olkiluoto Subsidiaries Posiva Oy (60%), responsible for the final disposal of spent fuel produced by its shareholders TVO Nuclear Services Oy (100%), specialized in know-how consulting 4

5 TVO Shareholders Etelä-Pohjanmaan Voima Oy 6.6% Fortum Power and Heat Oy 29.1% Karhu Voima Oy 0.1% Pohjolan Voima Oy 57.9% Kemira Oyj 12% 1.2% Oy Mankala Ab 8.1%

6 TVO s Operating Principle Debt holders - market rate TVO Power at cost base Share- holders (6) Power at cost base Power to Other power off-takers Power to E x t e r n a l Shareholders - equity injection - subordinated shareholder loan - no dividend Power use in own mills Power use in own mills M a r k e t

7 Track Records of Olkiluoto 1 and 2

8 Olkiluoto Infrastructure 8

9 Demand for Electric Power and Production Capacity Source: Finnish Energy gy Industries

10 OL4 in a Nutshell TVO applied to the Government in April 2008 for a Decision-in-Principle in to build the fourth nuclear power plant unit at Olkiluoto, Eurajoki. Electrical output MW Plant type either a boiling water reactor (BWR) or pressurized water reactor (PWR) plant All TVO s present shareholders support the venture Investment decision expected in 2012 Operation estimated to start at the end of the 2010s Investment EUR 3-4 billion 10

11 Organisation of Nuclear Waste Management LICENCES Government Ministry of Employment and the Economy TVO FORTUM POWER & HEAT SUPERVISION Radiation and Nuclear Safety Authority (STUK) MANAGEMENT OF FUNDING Nuclear Waste Management Fund, Ministry of Employment and the Economy POSIVA Consultants, Contractors, Universities, Research Institutes 11

12 Status of Nuclear Waste Management at Olkiluoto Underground d disposal of low- and dintermediate- t level operating waste VLJ Repository in operation since 1992 Spent fuel management Interim storage facility (KPA Store) in operation since , Decision i in Principle i process for building a joint deep repository for TVO and Fortum spent fuel Since 2004, POSIVA has been constructing an underground site characterisation facility (ONKALO) Start of final disposal in 2020 Funds collected in the price of nuclear electricity for future costs of nuclear waste management TVO has set aside EUR million by

13 LLW/ILW Repository at Olkiluoto Control building Shaft Transport tunnel Research tunnel Low-level waste Hall Connection tunnel Intermediate-level waste 13

14 Crane Hall of the LLW/ILW Repository

15 Silo for LLW

16 Interim Storage Facility for Spent Fuel at Olkiluoto 16

17 Development of Spent Fuel Repository 17

18 Final Disposal Facility for Spent Fuel

19 Alternatives for Final Disposal Concept Vertical Concept (KBS-3V) Horizontal Concept (KBS-3H) Rock Rock Filling material Bentonite Canister Bentonite Canister Source: Posiva

20 Arguments Supporting Use of Nuclear Power in Finland Technical and economical experiences of existing nuclear power plants over 30 years CO 2 free energy form Competitive, stable and predictable production costs Security of supply aspects Politically ll accepted waste management solutions 20

21 Emissions Free, Päästötöntä Safe and sähköä Reliable luotettavasti Electricity from Olkiluoto. Olkiluodosta. Today Nyt and ja in tulevaisuudessa. the Future. OL4 OL2 OL3 OL1

22 Thank you! 22