Developer of Estonia's nuclear power plant inks early consumer contracts

Property in the village of Letipea where a nuclear power plant may be built.
Property in the village of Letipea where a nuclear power plant may be built. Source: Ago Gaškov

Fermi Energy has agreed to sell power at a fixed rate starting at €55 per megawatt-hour to companies that enter into conditional preliminary contracts.

Kalev Kallemets, the CEO of Fermi Energia, said that 17 preliminary contracts had already been inked.

"The contract stipulates that if the government approves the construction of the plant in 2035, we will supply the contractor with electricity at the agreed price," Kallemets told ERR.

Kallemets said that the pricing would be based on the premise of airline tickets, so those who sign contracts sooner will pay less for nuclear energy. The price for the first 500 GWh will be €55 per megawatt-hour.

Fermi Energy did not specify who had signed the contracts. "There are different industrial companies; after all, Enefit Green also does not disclose with whom it contracts," Kallemets said.

Working Group on Nuclear Energy preliminarily reported that, Estonia could receive a nuclear power plant in 2035 or even a few years earlier. This requires the approval of the government and the Riigikogu in 2024, which national leaders can grant based on the final report of the working group, which is due the next year. With up to four modular reactors, the plant could have a total capacity of 1200 megawatts.


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Editor: Kristina Kersa

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