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Finnish electricity market proposes sixth reactor |
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| Finnish electricity market proposes sixth reactor |
| 06-Oct-2006 |
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Responding to a report into the Finnish electricity market which calls for a sixth nuclear reactor, E.On has announced that it will consider making a major investment in the project. The report by former director of the Finnish Competition Authority, Matti Purasioki said that while the electricity market in Nordic countries performs better than in other parts of the world there is room for improvement. He also proposed that Finnish power company Fortum should give up its shareholding in Teollisuuden Voima Oy (TVO), the utility for who Finland's fifth unit, Olkiluoto-3, is under construction. Fortum also owns the Loviisa nuclear plant and has shares in Sweden's Oskarshamn and Forsmark nuclear plants.
Trade and Industry Minister, Mauri Pekkarinen pointed out "the government had announced that all options for securing energy production will be considered in future decision making but that it would be for industries to understand the preparatory word."
The Minister said he was sceptical about the proposals in the report as to divest Fortum's ownership of
hydro-electric plants, set up a new state-run company and restrict Fortum's shareholding in TVO were expensive solutions for taxpayers and involved legislative difficulties.
A report prepared for the Finnish government last year concluded that if carbon dioxide emissions are to be restricted, political decisions and permit procedures must allow for additional nuclear power capacity even after the country's fifth unit is built. The report, produced by the Finnish energy
sector, was part of a wider government analysis exercise called "Finland in the Global Economy", launched by prime minister and Centre Party leader Matti Vanhanen in January 2004.
In their announcement E.On stated they were also considering investments in new conventional capacity in Finland and are financing up rates at its Swedish plants. |
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