The super-powerful reactor of the NPP again "presented" Finland with expensive electricity

At the third power unit of the Olkiluoto NPP, which is the most powerful in Finland, a new failure occurred, and the country faced new electricity prices on the market. They have grown six times.

The third day the third power unit of the Olkiluoto NPP is under repair after a malfunction of the generator. And for the second day, the country is experiencing high wholesale electricity prices. The third power unit can provide 30% of consumption in Finland.

According to the NordPool exchange, on November 18, average wholesale electricity prices in Finland rose to 71 euros per MWh, and on November 19 — to 125 euros per MWh. The cost of deliveries during peak hours at the same time jumped to 175 euros. The increase since Sunday is six times.

In terms of prices, Finland is second only to the countries of Eastern Europe, where quotes for peak hours have been reaching 734 euros per MWh for the second week. Local media blame algorithmic trading and speculators.

On November 17, a failure occurred at the third Olkiluoto power unit with a capacity of 1.6 GW.

"The unit was operating normally when a turbine malfunction automatically interrupted power generation at the station. The cause was a malfunction in the generator system. The repair is taking longer than expected, and based on current information, the plant is expected to return to power generation in about two days," the NPP operator reported.

While waiting for the launch of the most powerful reactor, average wholesale prices in Finland dropped to 46 euros on November 20. However, it is not known whether the power unit will be launched within the promised time frame.

It is known that failures at the reactor are not the first time. In January, its shutdown led to a jump in prices to 900 euros per MWh.