Finnish Government grants operating licence for Fortum’s final disposal facility for Loviisa nuclear power plant’s low- and inter­me­diate-level radioactive waste

Finnish Government grants Fortum license to operate final disposal facility for low- and intermediate-level radioactive waste. Finnish Radiation and Nuclear Safety Authority (STUK) had previously made its decision on the periodic safety assessment of the final. disposal facility.

Key Highlights:

* In 2022, the load factor at Fortum’s fully-owned Loviisa nuclear power plant was 89.4%.

* During the past five years Fortum’s investments in the Loviisa power plant have totalled about EUR 273 million.

* In 2022, the power plant produced a total of 7.9 terawatt hours of electricity, which is more than 10% of Finland’s electricity production.

Original Press Release:

March 30 -- Fortum Corporation issued the following news release:

The Finnish Government has today granted Fortum a licence to operate the final disposal facility for low- and intermediate-level radioactive waste, located in the Loviisa power plant area, until the end of 2090.

The Finnish Radiation and Nuclear Safety Authority (STUK) had previously made its decision on the periodic safety assessment of the final disposal facility for Loviisa power plant’s low- and intermediate-level radioactive waste. It stated in its decision that both the operating safety and the long-term safety of Loviisa’s final disposal facility are at a good level. STUK also stated that the licensee has the necessary procedures and resources in place to continue safe operation.

The final disposal facility located 110 metres underground in the power plant area has been in operation since 1998. It has been planned to be expanded so that eventually the radioactive waste generated from the decommissioning of Loviisa power plant can be placed there. The expansion is planned to be completed in the late 2040s, prior to the decommissioning of the power plant.

The plan is to use the final disposal facility to dispose of all the low- and intermediate-level radioactive waste generated during the Loviisa power plant’s operation and decommissioning process as well as small amounts of radioactive waste generated elsewhere in Finland, such as the decommissioning waste from VTT Technical Research Centre of Finland’s research reactor and material research laboratory. The operating licence granted today by Finnish Government covers the final disposal of all these wastes into Loviisa’s final disposal facility.

The spent fuel generated at the Loviisa power plant will be deposited in Posiva’s final disposal facility for spent nuclear fuel; Posiva is jointly owned by Fortum and TVO.

Loviisa nuclear power plant

In 2022, the load factor at Fortum’s fully-owned Loviisa nuclear power plant was 89.4%. The continuous development and modernisation of the power plant enable load factors that are among the best for pressurised water reactors on an international scale. During the past five years Fortum’s investments in the Loviisa power plant have totalled about EUR 273 million. In 2022, the power plant produced a total of 7.9 terawatt hours (net) of electricity, which is more than 10% of Finland’s electricity production. Fortum employs about 700 nuclear sector professionals, 550 of them work at the Loviisa power plant. Additionally, nearly 100 permanent employees of other companies work in the power plant area every day. www.fortum.com/loviisa

Fortum

Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com

Source: Fortum Corporation

[Category: Environmental & Facilities Services, Power, Power Generation, Regulatory and Legal, ESG]