According to Risto Kinnunen, an expert at the energy service company Väre, the price of electricity on the exchange will rise on Tuesday due to the interruption of Olkiluoto 3’s electricity production. This is estimated to increase considerably, possibly reaching 30 cents per kilowatt-hour or higher.
Olkiluoto 3 covers approximately 14% of Finland’s electricity needs and its interruption has caused a significant impact on the price of electricity. TVO, the responsible company, has revealed that electricity production in Olkiluoto’s triple unit will start again at noon on Tuesday after a faulty temperature measurement of the generator’s cooling system was discovered as the cause of failure.
Kinnunen also predicts that windless and colder weather towards the end of this week may cause fluctuations in hourly prices and lead to a drop in the price of electricity on Wednesday due to an increase in wind power production when it starts up again.