In the third unit of the Olkiluoto nuclear power plant, the most powerful in Finland, a new failure occurred and the country faced new electricity prices on the market. They have multiplied by six.
For the third day, the third power unit of the Olkiluoto nuclear power plant is under repair after a generator failure. And for the second day, the country is experiencing high wholesale electricity prices. The third power unit can cover 30% of the consumption in Finland.
According to the NordPool exchange, on November 18 the average wholesale electricity prices in Finland increased to 71 euros per MWh, and on November 19 to 125 euros per MWh. The cost of shipments during peak hours jumped to 175 euros. The increase since Sunday has increased sixfold.
In terms of prices, Finland occupies second place after Eastern European countries, where peak hour quotes reached 734 euros per MWh for the second week. Local media blamed algorithmic trading and speculators.
On November 17, a failure occurred in the third power unit of Olkiluoto with a capacity of 1.6 GW.
“The unit was operating normally when a turbine failure automatically interrupted power generation at the station. The cause was a malfunction in the generator system. “Repairs are taking longer than expected and based on current information, the plant is expected to return to generating power in approximately two days.” – reported the operator of the nuclear power plant.
In anticipation of the commissioning of the most powerful reactor, average wholesale prices in Finland on November 20 dropped to 46 euros. However, it is unknown whether the power unit will be launched within the promised time frame.
It is known that this is not the first time that reactor failures have occurred. In January, its closure caused a jump in prices to 900 euros per MWh.
