Electricity prices fall as repairs to Olkiluoto's third reactor completed
According to the Finnish energy company Teollisuuden Voima, the repair of the third reactor at the Olkiluoto nuclear power plant will be completed on Tuesday, which could lead to lower electricity prices in both Finland and Estonia.
The first annual maintenance of Olkiluoto's third power unit, which was commissioned last year, lasted 73 days due to repeated delays, the Helsingin Sanomat newspaper reported on Tuesday.
On Monday, only the second reactor of the Olkiluoto nuclear power plant in Finland was operational; its maintenance had been completed the previous Thursday. The yearly maintenance of the plant's first reactor began on Sunday and is expected to take 16 days.
The paper projected that electricity prices on the exchange would drop dramatically from Monday's price peaks. The average price for Tuesday will be 3.29 cents per kilowatt-hour (€32.9 per megawatt-hour), with the price falling to zero or slightly below by Tuesday afternoon.
The paper also reported that wind generation will lower electricity prices in the afternoon.
The NordPool power exchange pricing data shows that the average electricity price in Finland and Estonia was 121.18 and 122.61 euros per megawatt-hour on Monday.
Power prices in Finland and Estonia differed significantly on Tuesday, owing primarily to price disparities between morning and evening peak usage. The average daily electricity price in Finland was €25.12 per megawatt-hour, compared to €90.36 per megawatt-hour in Estonia.
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Editor: Mait Ots, Kristina Kersa
