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Nuclear Energy ‐
Nuclear Energy Finland
September 2009
Executive Summary

                   In 2008, 30% of electricity was generated through nuclear power
                   Finland has four nuclear power plant units with a total net capacity of 2,656 MW
  Overview         It is estimated that 4,800 MW of new nuclear generating capacity is required by 2030 to 
                    meet domestic demands
                    meet domestic demands
                   A new nuclear plant is under construction and three more are expected by 2020

                   Growth in energy intensive industries
   Market          Rise in net electricity imports
Characteristics    Credit issues faced by players in the market
                   Rising electricity price and cost effective electricity generation

                   Legislations governing nuclear activity
                    Legislations governing nuclear activity
                   Procedure for establishing a nuclear facility in Finland
 Regulations       Guidelines for obtaining a construction license for a nuclear power plant 
                   Guidelines for obtaining an operation license for a nuclear power plant 

                   The market is dominated by a few players which include
                     – Elektrobudowa
Major Players        – Teollisuuden Voima Oy 
                     – Fennovoima Oy 
                     – Fortum Power & Heat Oy 



                                         NUCLEAR ENERGY – FINLAND.PPT                                          2
•Market Overview
•Market Overview
•Market Characteristics
•Regulations 
 R l ti
•Government Policies and Initiatives
•Nuclear Waste Management
 N l     W      M
•Major Players 
•Appendix
       d



           NUCLEAR ENERGY – FINLAND.PPT   3
Nuclear Energy in Finland is the primary source of electricity 
generation 
Overview                                                             Electricity Production 
                                                                        TWh
•Nuclear energy accounted for 30% of total                                                                                   Nuclear power
                                                                      90
 electricity generated in 2008                                        80
                                                                                 82
                                                                                               79       78
                                                                                                               74
                                                                                                                             Hydro power
•Finland's four nuclear power plant units have a                      70        27%      68
                                                                                               28%     29%
                                                                                                                             Natural gas 
                                                                                                              30%
 total net capacity of 2,656 MW                                       60                33%
                                                                                                                             Coal
                                                                                18%            14%                           Biofuel
   The annual load factors of all the units have                     50                               18%
                                                                                                              23%
                                                                      40        12%     20%    12%                           Peat
    averaged at ~ 90% since its inception                                                              13%
                                                                      30         9%
                                                                                19%     3%
                                                                                       13%    20%         15%                Others
•Major uranium mining areas include
 M j       i    i i         i l d                                     20               10%
                                                                                                    17%
                                                                                                          11%
                                                                                12%    13% 7% 13%
   Eno in eastern Finland, Askola in southern Finland                10
                                                                                 8% 4%
                                                                                                    13%   12%
                                                                                           4% 8% 4% 8% 2% 8% 2%
    as well as in the Uusimaa, Northern Karelia and                    0
    Lapland provinces                                                           2004    2005   2006    2007   2008

•It has been projected 4,800 MW of new
 It has been projected 4,800 MW of new                               Growth in Nuclear Generation
 generating capacity is required by 2030 
   Finland needs new capacity both to meet new                             TWh
    demand growth and to replace old capacity,                                                                       69.2
                                                                           70
    primarily coal‐fired plants                                                                       +5%
                                                                           60
•Nuclear power development is expected to be                               50

 the primary measure to cut the CO2 emissions                              40
                                                                           30
 towards meeting the countries emission                                                22.2
                                                                           20
 targets
                                                                           10
                                                                            0
                                                                                       2008                          2030e



                                                 NUCLEAR ENERGY – FINLAND.PPT                                                               4
The country currently hosts four nuclear plants while 
another facility is under construction
Existing Nuclear Power Plants                                    Upcoming Nuclear Power Plant
                                                                 •A fifth nuclear power plant – Olkiluoto 3 – is 
Plant           Olkiluoto 1 & 2   Loviisa 1 & 2                   under construction 
                Teollisuuden      Fortum Power &                 •The plant will have a 1,600 MW European 
Operator
                Voima Oy (TVO)    Heat Oy 
                                                                  pressurized reactor
Commercial                                                       •Areva in collaboration with Germany's Siemens 
                1979 & 1982       1977 & 1981
Operation
                                                                  is building the plant for electricity firm TVO
                                                                  is building the plant for electricity firm TVO
Licensed Till   2039 & 2042       2027 & 2030                    •It is expected to go online in mid 2012
                Boiling Water     Pressurized                    •The plant was initially expected to be 
Type 
                Reactor           Water Reactor                   functional by mid 2009 but has been stalled 
Power (MWe)
P     (MW )     2 x 860
                2 860             2 x 488
                                  2 488                           due to operational delays
                                                                  d              i   ld l
Production                                                           Areva has invested USD 810 mn on the Olkiluoto 
                14.4 TWh          8.1 TWh                             project in the first half of 2009
(’07)
Load Factor                                                          The delay of the project is estimated to lead to an 
                95.6%
                95 6%             95.4%
                                  95 4%                               additional costs of USD 3.4 bn
                                                                       dditi    l    t f USD 3 4 b
('07)




                                             NUCLEAR ENERGY – FINLAND.PPT                                                5
Players are capitalizing on the opportunities in the market 
and developing new nuclear plants
Other Nuclear Project Expected to be Established
Operator                TVO                                 Fennovoima                              Fortum
                                                            Municipalities of Pyhaejoki, 
                                                                  p            y   j ,
Site
Sit                     Olkiluoto
                        Olkil t                                                                     Hastholmen in Loviisa
                                                                                                    H th l     i L ii
                                                            Ruotsinpyhtaeae and Simo
Capacity (MW)           1,000‐1,800                         1,500‐2,500                             1,000‐1,800 
                        Pressurized water reactors          European Pressurized reactor,           Pressurized water reactors (VVER‐
Reactor Type            (PWR) and Boiling Water             Boiling Water Reactor  (SWR‐            1000), ABWR, Economic Simplified 
                        Reactor (BWR)                       1000) or Advanced BWR (ABWR)            BWR
                        Toshiba, GE‐Hitachi, Mitsubishi                                             Toshiba, GEHitachi or a Russian 
Supplier alternatives                                       Areva and Toshiba
                        or a Korean supplier                                                        supplier
Construction date       2010                                2012                                    NA
Application for 
                        Apr‐08                              Jan‐09                                  Feb‐09
Decision‐in‐Principle
Operational Date        2020                                2020                                    2020
Cost                    USD 4.4‐5.9 bn                      NA                                      USD 5.9‐8.8 bn
                        • The existing infrastructure at    • Plant will provide electricity for    • Facility will be used for combined 
                          Olkiluoto which includes            its owners at production cost,          heat and power production
                          nuclear waste management            with each partner getting a           • The spent nuclear fuel will be 
Other Facts
                          and the basic organization          share of output in proportion to        disposed of  at Olkiluoto in Eurajoki
                          will benefit the operator           its share of ownership                • Electricity generated will be to all 
                                                                                                      electricity users
                                                                                                       l     i i



                                                        NUCLEAR ENERGY – FINLAND.PPT                                                          6
•Market Overview
•Market Overview
•Market Characteristics
•Regulations 
 R l ti
•Government Policies and Initiatives
•Nuclear Waste Management
 N l     W      M
•Major Players 
•Appendix
       d



           NUCLEAR ENERGY – FINLAND.PPT   7
Market Characteristics




          Rising electricity price and cost            Growth in energy intensive 
          effective electricity generation                     industries


                                           Market 
                                         Characteristics 



          Credit issues faced by players in 
                     the market                      Rise in net electricity imports




                                   NUCLEAR ENERGY – FINLAND.PPT                        8
The country comprises of major industries with large energy 
requirements forwarding growth in nuclear power 
Major energy intensive industries                               Segmentation of electricity consumption
•Majority of the power consumed in Finland is 
                                                                                                        Industry
 by the industrial sector
                                                                           25.8%             19.8%      Household & Agriculture
•The country comprises of industries which are                                                          Services & Construction
 major consumers of power such as pulp and                                                       3.3%   Losses
 paper, metal and engineering industry, and 
 shipbuilding
    p        g
•According to a survey by TNS Gallup, for 
                                                                                     51.0%
 Finnish power company TVO, it has been 
 inferred that electricity demanded will 
 increase in Finland in the next 10 30 years
 increase in Finland in the next 10‐30 years
•The main reasons for the increase in electricity 
 consumption are expected to be the growth of                                      11.0%                         Forest
 industrial production, the increase in                                                                          Meat Processing
                                                                             15.3%                               Chemicals
 automation, the electrification of traffic, and a 
 automation the electrification of traffic and a
                                                                                               55.8%             Others
 general increase in the standard of living
                                                                              17.9%




                                            NUCLEAR ENERGY – FINLAND.PPT                                                       9
Shortfall of domestically produced electricity will drive the 
market; players face major credit issues
Rise in net electricity imports
• The shortfall in electricity generation has led to an increase in net electricity imports
• Furthermore, net electricity imports accounted for approximately 15% of energy consumption in 2008

                                                    Net Electricity Imported


                                                                 +27%
            TWh                                                                                            +11%
          20                           16.9                      17.0
          15                                                                                11.4                  12.6

          10                          +252%
               4.8
           5

           0
           2004                       2005                       2006                      2007                   2008


Credit issues faced by players in the market
• The market has been seen to be risky as many issues crop up affecting credit including 
   h     k h b                b ik             i               ff i        di i l di
    Construction cost overruns,
    Negative public reaction to potential safety and security problems at nuclear plants
    Lack of experience with new plant design
    Lack of a long‐term solution for storage of radioactive waste leading to long‐term cost uncertainty
     Lack of a long term solution for storage of radioactive waste leading to long term cost uncertainty




                                                        NUCLEAR ENERGY – FINLAND.PPT                                     10
Rising electricity prices and the cost advantages of nuclear 
power is expected to lead to a growing market 
Rising electricity price and cost effective electricity generation
• The price of market electricity has been on the rise due to rising demand and shortfall in production
• This creates strong opportunities for players to enter the energy market 
                                       Averaged Monthly Mean Price

                   USD Cents/KWh
                                                                                        Since 2007, the average 
                        10                                                        7.5   monthly mean price of 
                              4.4
                              44                                                         electricity has risen by 
                                                                                         electricity has risen by
                         5
                                                                                                   70%
                         0
                         2007                                                  2008
• It has been estimated that electricity generated via nuclear power is most cost efficient in comparison with other
  It has been estimated that electricity generated via nuclear power is most cost efficient in comparison with other 
  sources in Finland nuclear energy
                       Price of electricity generated by various sources (2003)

                                                   +17%
              USD cents/KWh
                                                    4.10
                                                    4 10                4.80
                                                                        4 80
                   5           3.50

                   0
                             Nuclear               Coal             Natural Gas
• Furthermore with emission trading at USD 29 5/t CO2 the electricity prices for coal and gas increase to USD 6 5
  Furthermore, with emission trading at USD 29.5/t CO2, the electricity prices for coal and gas increase to USD 6.5 
  c/kWh and USD 5.8 c/kWh respectively


                                                      NUCLEAR ENERGY – FINLAND.PPT                                      11
•Market Overview
•Market Overview
•Market Characteristics
•Regulations 
 R    l ti
•Government Policies and Initiatives
•Nuclear Waste Management
 N l      W     M
•Major Players 
•Appendix
        d



           NUCLEAR ENERGY – FINLAND.PPT   12
Regulations




           Guidelines for obtaining an 
                                                   Legislations governing nuclear 
          operation license for a nuclear 
                  power plant                                  activity 

                                           Key 
                                         Regulation
                                             s

            Guidelines for obtaining a 
                                                     Procedure for establishing a 
         construction license for a nuclear 
                   power plant                        nuclear facility in Finland




                                  NUCLEAR ENERGY – FINLAND.PPT                       13
Legislations governing nuclear activity 

                   • It establishes general principles governing the regulation of the use of nuclear energy, the 
                     establishment of a licensing procedure and nuclear waste management 
                   • States that a license is required for the manufacturing, production, handling, use and storage of 
                     nuclear materials
  The Nuclear 
Energy Act, 1987   • Radioactive waste management is regulated by this act. It allocates responsibilities between waste 
                     producers and government authorities, incorporates waste management criteria into the licensing 
                     procedure and provides the basis for financing the waste management system 
                   • A license must be procured under this act for the transportation of nuclear materials and waste 
                     issued by the STUK
                   • Aims to protect human health from the adverse effects of radiation 
                   • Regulates all activities that cause or may cause exposure to radiation 
The Radiation
The Radiation         t as d e e t e e s o ce s g equ e e ts a d app es to o s g, o o s g a d atu a
                   • It has different levels of licensing requirements and applies to ionising, non‐ionising and natural 
Protection Act,      radiation
     1991
                   • To obtain a license under this act an application is given to the STUK with information regarding the 
                     equipment and protective shields used in the activities, quality of personnel and work standards, and 
                     the system followed for the disposal of radioactive waste
                   • All mining activities are regulated by this act
                   • The act forwards that in order to execute mining or enrichment operations for producing uranium or 
The Mining Act       thorium requires a license by the Government which may be granted to Finnish citizens, corporations 
                     or foundations as well as to individuals, entities or authorities residing within the member states of 
                     the European Union 


                                                  NUCLEAR ENERGY – FINLAND.PPT                                             14
Legislations governing nuclear activity

                   • It makes the operators of nuclear power plants responsible for damages caused to third parties
 The Nuclear 
                   • The total liability of a nuclear power plant situated in Finland has been limited such that the plant 
 Liability Act, 
     1972            must compensate for damages to a maximum of 175 mn Special Drawing Rights
                   • Finland’s international agreements makes contracting countries compensate the injured
                     Finland s international agreements makes contracting countries compensate the injured 
Transportation     • Regulates all modes of transportation of radioactive substances
 of Dangerous 
Substances Act     • Applies to international and domestic transport
 Electricity 
           y
 Market Act
                   • Opened up access to distribution networks and allows foreign ownership in electricity supply
                     Opened up access to distribution networks and allows foreign ownership in electricity supply

   Act on 
 Competition       • Activities must be compatible with the European Community law on competition
 Restrictions

Land Use and       • Requires a land use plan for power plants and other facilities to be built on plant sites, and provides 
                                l d         l f          l       d h f l               b b l        l             d      d
 Building Act        guidelines for their planning
Environmental 
Protection Act
                   • Lays down various requirements relating to environmental protection

Law on Water 
L      W t
  Resources
                   • Permits are required from environmental authorities for the use of cooling water in power plants

  Law on Air 
  Protection
                   • States the limits that the government must impose for non‐radioactive atmospheric emissions

   Law on 
   Law on
                   •S
                    States the measures that operators must take while building the facility  in the event of a nuclear 
                            h            h                    k hil b ildi       h f ili i h                f      l
 emergency 
preparedness        emergency

                                                   NUCLEAR ENERGY – FINLAND.PPT                                               15
The procedure for establishing a nuclear facility in Finland

Developing a nuclear power plant
• There are primarily 4 stages towards the development of a nuclear facility


     Environmental 
                                       Decision in                      Construction                 Operation 
        Impact 
                                        Principle                         License                     License 
      Assessment 

                                 • Operator files an 
                                             fl
                                   application to the 
                                   Government for a                                            • Before the 
 • Coordinated by the                                              • Once the DiP is 
                                   Decision‐in‐Principle                                         construction of the 
   Ministry of                                                       affirmed the 
                                   ( )
                                   (DiP)                                                         p
                                                                                                 plant is on the verge 
                                                                                                                     g
   Employment and 
       l            d                                                operator applies for 
                                                                            t      li f
                                 • EIA report is                                                 of completion, the 
   Labor                                                             a construction 
                                   attached to the                                               operator applies for 
 • Operator carries out                                              license
                                   application                                                   an operating license 
   an environmental                                                • This license is issued 
                                 • Government carries                                            for the facility
   impact assessment 
     p                                                               by the Government 
                                                                       y
                                   out a safety 
                                   out a safety                                                • The Government
                                                                                                 The Government 
   on the construction                                               after a rigorous 
                                   appraisal from STUK                                           issues this license 
   and operation of the                                              assessment 
                                   and a statement                                               based on various 
   nuclear facility                                                  procedure
                                   from the                                                      considerations
                                   municipality in the 
                                   area 


                                                 NUCLEAR ENERGY – FINLAND.PPT                                         16
Guidelines for obtaining a construction license for a nuclear 
power plant 
                                Environmental 
                                                                              Government                               Parliament
                              Impact Assessment 

                              Ministry of Trade and 
                                                                       Submits the Government a                  Application moves to the 
                                                                                                                  pp
                              Environment (KTM)
                              Environment (KTM)
                                                                       review addressing issues of               Parliament for approval
                                                                      waste management including 
                                                                      methods proposed, safety and 
                                Preliminary safety                   environmental aspects, cost and 
                                                                                                                  Grant of the license is 
Application for                 assessment from                      suitability to Finnish conditions 
                                                                                                                  still contingent upon 
a construction 
       t ti                           STUK                                                                       public safety, workforce 
    license                                                                                                              protection, 
forwarded by                                                                                                          environmental 
 the operator                                                                                                       protection, town 
                                                                                                                  planning and building 
                             Safety assessment by the 
                                  y             y                        Application is approved 
                                                                          pp             pp
                                                                                                                 requirement, technical 
                                                                                                                       i      t t h i l
                              areas and neighboring                       or disapproved by the 
                                                                                                                   expertise, financial 
                                municipal councils                             Government
                                                                                                                   resources and final 
                                                                                                                    decommissioning

Applicant provides 
 pp       p
                              Consultation with government agencies such as the Ministry of Defense, concerned State Provincial Office, 
                              C    lt ti    ith           t      i      h th Mi i t       fD f               d St t P i i l Offi
 information for 
                                   Regional Council and Regional environment Centre and Advisory Committee on Nuclear Energy
public consultation


• Construction and operation of nuclear facilities is prohibited without a license
• Licenses are granted to those entities under the jurisdiction of the EU member status
  Licenses are granted to those entities under the jurisdiction of the EU member status
• The Government must reject the proposal if the municipal council responsible for the proposed site opposes the application



                                                         NUCLEAR ENERGY – FINLAND.PPT                                                   17
Guidelines for obtaining an operation license for a nuclear 
power plant 
                                                             Intermediate 
                                                                                                                      Government
                                                              Authorities

                                                    KTM assess the financial security 
                                                     requirements based on the act 
                                                                  b d         h
                                                     related to waste management 
Application for 
  operational 
                                                                                                                Application moves to the 
    license  
    license                                                                                                     government for approval  
                                                                                                                            f          l
forwarded by                                        STUK  assess the safety, physical 
                                                    protection, emergency planning, 
 the operator                                        non‐proliferation requirements 
                                                    and the financial guarantee that 
                                                       the operator can cover the 
                                                     possibility of a nuclear damage 
                                                         ibili    f      l    d
                                                          caused by the facility

• Operating licenses are granted for a fixed period of time
• License period is subject to change during the period of its validity by the Government
• The license can be revoked if it undermines any of the acts basic principles, if it dies, loses legal capacity or if the institution becomes 
                                                  y                   p     p ,           ,         g     p y
  bankrupt or ceases to operate the facility for any other reason
• License requirements of the Nuclear Energy Act are reinforced by provisions for criminal offences
     Offences include use of nuclear energy without the appropriate license, infringement of particular provisions of the act, failure to 
      observe license conditions, failure to comply with safety, physical protection or emergency planning requirements, or interference 
      with equipment installed by STUK to monitor nuclear power facilities
 The STUK has the authority for search and entry, to access records, take samples and install  monitoring devices. It require the operator 
  to submit reports and provide information regarding the method of production of fuel or the manufacture of equipment to be used


                                                         NUCLEAR ENERGY – FINLAND.PPT                                                             18
•Market Overview
•Market Overview
•Market Characteristics
•Regulations 
 R l ti
•Government Policies and Initiatives
•Nuclear Waste Management
 N l     W      M
•Major Players 
•Appendix
       d



           NUCLEAR ENERGY – FINLAND.PPT   19
Government Policies & Initiatives 


                                   Policies towards reducing 
                                         CO2 emission
                                         CO2 emission




                                              Key 
                                            Policies
                                            P li i

     Introduction of a windfall                                      Major research and 
            profits tax 
                fi                                                  development activities 
                                                                    d l            i ii




                                     NUCLEAR ENERGY – FINLAND.PPT                             20
The governments targets to reduce carbon dioxide 
emissions will benefit the nuclear power industry
Policies towards reducing CO2 emission
• The government has two major targets to be met due to international agreements 
    The European Union has forwarded directives to cut CO2 emissions by at least 20% by 2020, compared to 1990 levels
    Under the Kyoto Protocol, the country must reduce their greenhouse gas emissions by a total of 8% from the 1990 level by the 
     first commitment period of 2008–2012
      – The most significant greenhouse gas, carbon dioxide, accounts for over 80% of all greenhouse gas emissions in Finland
• The State of Finland will contribute to this goal by acquiring on average 2 mn tons of emission reductions per 
  year with the help of the Kyoto flexible mechanisms
• It has been estimated that the government shall forward initiatives to develop 4,800 MW of new nuclear power 
  capacity by 2030 in order to meet the targets 
                                              Electricity Procurement by Source of Energy in Finland

                                 2005                                                                                     2011
                                                            The share of emission‐
                           Gas
                                                            free energy sources is                              Gas
                            11%                 Nuclear     expected to grow from 
         Coal, Oil                                                                                                16%
                                         26%                     54% to 66%                                                               Nuclear
                     10%                                                                       Coal, Oil
                                                                                               Coal Oil                             34%
                                                                                                           7%

                                                                                               Imports 7%
                     20%                      12%
        Imports                                     Wood Waste
                                                                                                             15%
                                         5%                                                                                   17%
                                 16%                                                            y ,
                                                                                               Hydro, Wind              4%
                                          Peat 
                                          P
                           Hydro, Wind                                                                                           Wood Waste
                                                                                                                      Peat 



                                                                  NUCLEAR ENERGY – FINLAND.PPT                                                      21
Major research and development activities carried out by 
the State towards developing this segment
Overview                                                            Sources of Funding
•R&D activities have largely focused on safety 
 and operational performance of the power                                                4.0%                 Power Companies
                                                                                    3.0%
                                                                                    3 0%
 plants, and the management and disposal of 
  l        d h                   d di      l f                                          4.0%
                                                                                                              Research Funds
 waste                                                                          11.0%                         VTT
                                                                                                              Tekes
•Annual funding for national nuclear energy                                    8.0%                           EU
 research is ~USD 69.2 mn                                                                                     Others
   Additi
    Additional funding is received from Tekes, the 
              l f di i        i df      T k th                                                    70.0%
                                                                                                  70 0%
    Finnish Funding Agency for Technology and 
    Innovation
•The country has no institutes dedicated to 
 nuclear research                                                   Research Areas
   Most research takes place at the VTT Technical 
    Research Centre of Finland
                                                                                       10.0%
•National research programmes on nuclear                                                   0.4%            Nuclear Waste
 energy                                                                                                    Management

   Nuclear Power Plant Safety (SAFIR2010), 2007–                                                          Reactor Safety
                                                                               28.4%                       Fusion
    2010
                                                                                                   61.2%   Others
   Research Programme on Nuclear Waste 
    Management (KYT2010), 2006–2010
   Euratom – Tekes Fusion Energy Cooperation
    Euratom  Tekes Fusion Energy Cooperation, 
    2007–2011


                                                NUCLEAR ENERGY – FINLAND.PPT                                                22
The State plans on implementing a windfall profit tax for 
The State plans on implementing a windfall profit tax for 
nuclear and hydro power facilities
Introduction of a windfall profits tax on nuclear and hydro power plants

                  • The Finnish government plans on implementing a windfall profit tax on the existing nuclear 
                    and hydro power facilities by 2011
                    and hydro power facilities by 2011
Overview
                  • The Ministry of Employment and the Economy has instated a working group which will look 
                    into the specifics of the tax
                  • The tax is intended to offset windfall profits that utilities with nuclear and hydropower 
Purpose
                    generation make selling their free CO2 allocations
                    generation make selling their free CO2 allocations
Application       • The tax would apply to nuclear and hydropower plants built before 1997 
                  • The tax levied conforms to EU regulations
Major             • It should not hamper the competitiveness of Finland's energy intensive industry 
Considerations    • Outcome of the tax should not lead to an increase in electricity prices for consumers and 
                    industry
Expected Tax 
                  • The tax rates is expected to range from USD 1.5 to USD 14.7 per MWh
Structure
                  • Depending on the level, the government has estimated that it will generate between USD 48.6 
Financial           mn and USD 486 mn in annual revenue
Benefits          • This tax is expected to add to the state funds which can be implemented to further the energy 
                    sector in Finland




                                                NUCLEAR ENERGY – FINLAND.PPT                                         23
•Market Overview
•Market Overview
•Market Characteristics
•Regulations 
 R l ti
•Government Policies and Initiatives
•Nuclear Waste Management
 N l     W      M
•Major Players 
•Appendix
       d



           NUCLEAR ENERGY – FINLAND.PPT   24
Nuclear Waste Management




                                               Developments in nuclear waste 
              Current scenario
                                                      management 

                                  Nuclear Waste 
                                   Managemen
                                         t


         Provisions of nuclear waste 
                management                     Classification of nuclear waste




                              NUCLEAR ENERGY – FINLAND.PPT                       25
Developments in nuclear waste management 
                                                                            2004‐2009: Ground‐level service and monitoring buildings for 
                                                                            ONKALO under construction. Excavation of the access tunnel to 
                                                                            reach a depth of 420 metres at an investment of USD 103 mn
1983: The Finnish Government set the overall schedule on the                2009‐2011: Research on the mechanical characteristics of the 
Finnish nuclear waste management programme and began 
Finnish nuclear waste management programme and began                        bedrock, and layout adaptation of the repository
                                                                            bedrock, and layout adaptation of the repository
scanning potential sites for final disposal of spent fuel                   2012: Posiva plans on submitting an application for a construction 
1987: Interim storage of spent nuclear fuel started in Olkiluoto            license for the final disposal facility
with wide scale field research in 5 municipalities for the final            2015: Construction of the final disposal facility to begin
disposable site


   1970                  1980                   1990                   1995                    2000               2005                 2020

                                                                                                             • 2003: 
• 1970: Plans                                • 1988:                                      • 2000: 
                                                                    • 1994:                                    Municipality 
  for nuclear         • 1977‐1978:
                        1977‐1978:             Construction 
                                               Construction                                 Olkiluoto  
                                                                                            Olkiluoto
                                                                      Parliament                               of Eurajoki 
  waste                 Operation of           of low and                                   was selected                          • 2020: Final 
                                                                      banned the                               issued a 
  management            reactors               intermediate                                 as the site                             disposal is 
                                                                      import and                               permit for 
  began with            started in             level waste                                  for final                               expected to 
                                                                      export of                                ONKALO ‐ an
  construction          Loviisa and            repository in                                disposal of                             begin 
                                                                      nuclear                                  underground 
  of the plants         Olkiluoto              Olkiluoto                                    spent 
                                                                      waste                                    characterizat
                                               began
                                               b                                            nuclear fuel
                                                                                                l    f l
                                                                                                               ion facility



      Interim storage                                     1992: Final disposal of low and intermediate level waste started in Olkiluoto
      began in 
      began in                                            1993: Construction of low and intermediate level waste repository started in Loviisa
                                                          1993: Construction of low and intermediate level waste repository started in Loviisa
      Loviisa                                             1995: Posiva Oy was established to manage the final disposal of spent nuclear fuel



                                                           NUCLEAR ENERGY – FINLAND.PPT                                                       26
Classification of nuclear waste 

                                 Types of nuclear waste under the Nuclear Energy Act 


                                      Current nuclear waste scenario in Finland
                                      Current nuclear waste scenario in Finland



                                                  High‐Level Waste
        Operating Waste
         p      g                                                                   Decommissioning Waste
                                                                                                  g
                                            (including spent nuclear fuel)
                                            (i l di        t    l    f l)



  • Operating waste consists 
    of low (LLW) and 
    of low (LLW) and                        • The four nuclear power
                                              The four nuclear power              • Decommissioning refers to
                                                                                    Decommissioning refers to 
    intermediate level (ILW)                  plants produce ~ 70                   nuclear waste 
    waste                                     tonnes of spent fuel a year           management actions taken 
      LLW includes protective              • Spent nuclear fuel can be             after a nuclear power 
       plastic sheets, tools,                 reprocessed but that is not           plant has been closed
       protective clothing and 
       protective clothing and                the case in Finland. Spent 
                                               h         i Fi l d S               •SSome of the structures in a 
                                                                                            f h              i
       towels used in service work
                                              fuel is allowed to cool in a          plant become radioactive 
      ILW consists of the ion‐
       exchange resin used to                 water pool for a few years,           over time. One of the most 
       purify the process water               after which it is transferred         important structures in 
  • Operating Waste
    Operating Waste                           to interim storage facilities 
                                                               g                    this respect is the reactor 
                                                                                            p
      Olkiluoto 150‐200 m3/yr                on the plant site                     pressure vessel
      Loviisa 100‐150 m3/yr 

                                                NUCLEAR ENERGY – FINLAND.PPT                                       27
Provisions of nuclear waste management 

                                  Provisions under the Nuclear Energy Act 


                 • ”Nuclear waste generated in connection with or as a result of the use of nuclear energy in 
Disposal Norm
Disposal Norm
                   Finland shall be handled, stored and permanently disposed of in Finland”




                 • Th h dli
                   The handling, storing and permanent disposal of nuclear waste originating from other countries 
                                  t i      d         t di     l f     l       t    i i ti f        th       ti
  Dumping
                   is forbidden


                 • The nuclear power companies are responsible for all the costs related to nuclear waste
                   The nuclear power companies are responsible for all the costs related to nuclear waste 
                   management, including decommissioning
Role of power        The power companies bearing the waste management obligations have established a joint company, Posiva 
 companies            Oy, to execute the necessary research and implementation of spent fuel disposal
                 • The costs of waste management is factored in the price of electricity produced by the nuclear 
                   power plants
                   power plants


                 • The purpose of this fund is to collect, store and reliably invest the funds towards developing 
Nuclear Waste 
                   facilities as well as carry out research projects for storing nuclear waste in the future
Management
                 • The fund contains approximately USD 2 2 mn
                   The fund contains approximately USD 2.2 mn  
    Fund
                 • The fund is controlled and administered by the Ministry of Trade and Industry


                                            NUCLEAR ENERGY – FINLAND.PPT                                                   28
Nuclear waste management is dominated by existing 
companies in the nuclear energy segment
                               Nuclear Waste Management Scenario in Finland 


                      • Posiva Oy, established in 1995, is an organization responsible for nuclear waste management 
     Overview           in Finland
                      • The company had a turnover of ~ USD 81 mn in 2008 
                      • Posiva is owned by Teollisuuden Voima Oyj (60%) and Fortum Power & Heat Oy (40%) which 
    Ownership 
            p           are the largest companies in nuclear power generation
                      • Both companies share the cost of nuclear waste management
                      • Its activities include the final disposal of spent nuclear fuel of the owners including the 
                        construction, operation and eventual decommissioning and dismantling of the final disposal 
     Activities         facility
                               y
                      • It is responsible for research into the final disposal of spent nuclear fuel and also provides 
                        expert nuclear waste management services
                      • The spent fuel which is stored underground in Louviisa and Olkiluoto is expected to be 
   New Facility
   New Facility         transferred from existing water pool storage facilities to a final disposal area in Olkiluoto 
                        transferred from existing water pool storage facilities to a final disposal area in Olkiluoto
                      • The plant should be functional in around 2020

                      • The two players in the nuclear power generation market have ownership over the company 
Monopolistic Nature     which makes it difficult for new players to enter the market considering the importance 
                        placed on nuclear waste management by the Government of Finland
                         l d         l         t              t b th G            t f Fi l d



                                              NUCLEAR ENERGY – FINLAND.PPT                                               29
•Market Overview
•Market Overview
•Market Characteristics
•Regulations 
 R l ti
•Nuclear Waste Management
•Government Policies and Initiatives
 G            P li i    dI i i i
•Major Players 
•Appendix
       d



           NUCLEAR ENERGY – FINLAND.PPT   30
Players in the Market (1/4)

Company Snapshot: Elektrobudowa
Corporate Information                                                     Financial Performance
Headquarters        Katowice                                                                         Revenue
                                                                            Revenue                                                Profit
                                                                                                                                      fi
                                                                            USD mn                   Profit / Loss               USD mn 
Founded             1953
                                                                          400                                                331.7      25
                    Construction and installation services; 
Area of Expertise                                                         300                                        280.2             20
                    manufacturing electrical power equipment
                                                                                                      191.0                            15
                    Dariusz Manko – Ch i
                    D i     M k Chairman                                  200
                                                                                     118.7   141.0                                     10
Key People
                    Jacek Faltynowicz – President                         100                                                          5
                                                                            0                                                          0
                                                                                     2004    2005     2006           2007    2008

Business Highlights
Business Highlights
• The company operates in various business segments   
    Power generation sector ‐ Technical consulting, engineering, procurement of materials and equipment, electrical works, testing,
     commissioning and start‐up, service of operated equipment 
    Power distribution sector ‐ Manufacture of medium voltage and low voltage switchgear assemblies
     Power distribution sector ‐ Manufacture of medium voltage and low voltage switchgear assemblies
    Industrial automation sector  ‐ Executes complex automation projects, data and communication systems for power generation plants, 
     industrial facilities, civil, industrial and residential construction, public utility facilities
• It signed a contract for the electrical works and the participation in the commissioning of the reactor section of a 
  nuclear power plant in Finland which is under construction
    The signed contract is estimated at USD 9.3 mn    
    Operations began in Mar 2008 and is expected to be completed by 2011


                                                      NUCLEAR ENERGY – FINLAND.PPT                                                           31
Players in the Market (2/4)

Company Snapshot: Teollisuuden Voima Oy 
Corporate Information                                                       Financial Performance
Headquarters        Eurajoki                                                                           Revenue
                                                                             Revenue                                                   Profit
                                                                                                                                          fi
                                                                             USD mn                    Profit / Loss                  USD mn
Founded             1969
                                                                            400                                                360.5       0
                                                                                                         334.0         331.1
                    Construction of power plants and electricity                       319.3   292.8
Area of Expertise                                                           300                                                            ‐20
                    generation
                    Timo Rajala – Ch i
                    Ti   R j l Chairman                                     200                                                             40
                                                                                                                                           ‐40
Key People
                    Jarmo Tanhua – President and CEO                        100                                                            ‐60

                                                                              0                                                            ‐80
                                                                                       2004    2005      2006          2007    2008

Business Highlights
Business Highlights
• It is a company owned via a public‐private partnership; 43% ‐ government (including 27% by Fortum) and 57% private
• The output of the plants are contracted to each owner based on their share in the company while any unwanted 
  portion is sold by them to the Nordic market
• The companies presence in the energy market
    Owns and operates two nuclear power plant units, Olkiluoto 1 and Olkiluoto 2 at Eurajoki
    The Meri‐Pori coal‐fired power plant; plans on developing a carbon capture system in association with Fortum
    Operates a wind power plant of 1 MW plant capacity with an annual output of ~2 mn kWh
• The company has been focusing on developing economical safe and environmentally friendly electricity for its
  The company has been focusing on developing economical, safe and environmentally friendly electricity for its 
  shareholders


                                                        NUCLEAR ENERGY – FINLAND.PPT                                                           32
Players in the Market (3/4)

Company Snapshot: Fennovoima Oy 
Corporate Information                                                      Company Ownership
Headquarters        Helsinki                                               • Enterprises in industry trade and services hold
                                                                             Enterprises in industry, trade and services hold 
                                                                             approximately 30% share, regional and local energy 
Founded             2007
                                                                             companies own approximately 36% share in 
Area of Expertise   Operate nuclear power plants                             Fennovoima
                    08’ Loss – USD 13.5 mn; ’07: Loss – USD 2.5            • Fennovoima has two owners
Financials
                    mn
                                                                               Voimaosakeyhtio has a 66% stake 
Key People          Juha Rantanen – Chairman                                   E.ON Nordic has a 34% stake
                                                                           • Altogether it has 64 shareholders including
Business Highlights
Business Highlights
• It plans on constructing a 1500–2500 MW nuclear power plant in Finland
• Fennovoima plans on producing electricity for its owners’ needs at production cost basis where each owner will 
  receive the share of capacity proportional to its ownership in the company
• It has begun drafting the required studies for constructing the new nuclear power plant. These include studies related 
  to the site, safety, technical matters and nuclear waste management issues. Fennovoima is conducting the 
  Environmental Impact Assessment procedure for three sites
• The plant is expected to become operational by 2020 with construction beginning in 2012




                                                       NUCLEAR ENERGY – FINLAND.PPT                                            33
Players in the Market (4/4)

Company Snapshot: Fortum Power & Heat Oy 
Corporate Information                                                       Financial Performance
Headquarters        Espoo                                                                            Revenue
                                                                             Revenue                                                Profit
                                                                                                                                       fi
                                                                              USD bn                 Profit / Loss                 USD bn
Founded             1998
                                                                             10                                             8.3         2.5
                    Construction of power plants and electricity 
Area of Expertise                                                             8
                                                                                                       6.6           6.6
                                                                                                                                        2.0
                    generation                                                         5.6    5.7
                                                                              6                                                         1.5
                    Matt Lehti – Chairman 
                    M tt L hti Ch i                                           4                                                         1.0
Key People
                    Tapio Kuula – President and CEO
                                                                              2                                                         0.5
                                                                              0                                                         0.0
                                                                                       2004   2005    2006           2007   2008

Business Highlights
Business Highlights
• Fortum is a leading energy company in the Nordic countries and the other parts of the Baltic Rim
• The Finnish government has a 51% stake in the company 
• Its activities cover the generation, distribution and sale of electricity and heat, the operation and maintenance of 
  power plants as well as energy related services 
• Fortum Power and Heat Oy are subsidiaries engaged in nuclear energy activities
• The company owns and operates the nuclear plant at Loviisa  and has minority shares of the Olkiluoto nuclear  power 
  plant and of the Swedish Forsmark and Oskarshamn nuclear power plants
• It plans on constructing a new nuclear power plant unit on the island of Hastholmen in Loviisa with a capacity of 
  1,000‐1,800 MW at USD 5.9 bn – USD 8.8 bn

                                                        NUCLEAR ENERGY – FINLAND.PPT                                                         34
•Market Overview
•Market Overview
•Market Characteristics
•Regulations 
 R l ti
•Nuclear Waste Management
•Government Policies and Initiatives
 G            P li i    dI i i i
•Major Players 
•Appendix
       di



           NUCLEAR ENERGY – FINLAND.PPT   35
Appendix: Government Bodies 

                Ministry of Employment and the Economy 


                Ministry of Social Affairs and Health 


                Ministry of Interior 
                       y

 Major Bodies
          `     Ministry of Environment


                Ministry of Foreign Affairs 


                Advisory Bodies  


                Finnish Radiation and Nuclear Safety Authority 

                                    NUCLEAR ENERGY – FINLAND.PPT   36
Government Bodies (1/3)

             Ministry of Employment and Economy (previously known as Ministry of Trade and Industry)

             • Responsible for the use of nuclear energy in Finland
             • Plays a central role in the licensing system
             • Supervises and co‐ordinates the long and cumbersome application procedure which involves
               other ministries, national and local authorities and public hearings
             • Supervises the implementation of the countries statutory provisions on waste management
               and administers the State Nuclear Waste Management fund
                                                                g
             • Supervises research and development work carried out in the field of nuclear safety
Key Bodies   • Represents Finland within the European Atomic Energy Community, the International
               Atomic Energy Agency, the Nuclear Energy Agency of the OECD, and the Nordic Nuclear
               Safety Research Programme


             Ministry of Social Affairs and Health 

             • Develops and guides policies relating to social protection, social welfare and health care
                       p       g     p              g           p
             • Drafts legislation and other regulations on radiation protection, draws up official statements 
               on radiation protection issues, monitors and guides the development and implementation of 
               radiation issues
             • It has administrative and financial responsibilities over the Radiation and Nuclear Safety 
               Authority which supervises both protection and other radiation legislation issues


                                      NUCLEAR ENERGY – FINLAND.PPT                                               37
Government Bodies (2/3)

              Ministry of Interior 

              • Responsible for the protection of the general public in the event of an emergency such as a 
                nuclear incident
              • It is consulted during various stages of the licensing process under the Nuclear Energy Act


              Ministry of Environment
              • The ministry is consulted on the regulation of various aspects of nuclear energy and
                radiation hazards
Key Bodies    • Issues discussed include emergency planning and nuclear waste management
              • International hearing of the EIA is executed by this ministry which acts as the contact point

              Ministry of Foreign Affairs 
              • Licensing authorities must seek their advice on certain applications to export nuclear 
                material 

              Advisory Bodies  

              • Advisory Committee on Nuclear Energy and Advisory Committee on Nuclear Safety
                  Permanent consultative committee on nuclear energy issues
                                                                      gy
                  It is appointed by the Government and works in collaboration with the Ministry of Trade and Industry



                                         NUCLEAR ENERGY – FINLAND.PPT                                                     38
Government Bodies (3/3)

             Finnish Radiation and Nuclear Safety Authority (STUK)


             •Functions
                 Primary functions include
                   – Regulating the safe use of nuclear energy and radiation including radiation monitoring activities
                   – Executing research and development projects on radiation protection
                   – Providing training and information to required personnel
                   – Participates in the licensing process, imposes and enforces the licensing conditions
                   – Assists in safeguards and emergency planning in the nuclear context
Key Bodies       Controls the safety of the transportation of nuclear waste and radioactive materials for
                  final disposal
             •Structure
              Str ct re
                 Board of Governors carries out the administrative supervision of the authority
                 Reports to the Ministry of Social Affairs and Health and to the Ministry of Trade and
                  Industry
             •Financial Aspect
                      l
                 Its activities are funded by the annual state budget
                 The nuclear power companies bear the costs of nuclear regulation and the authority is in
                  a position to set the fee structure based on certain guidelines provided by the Ministry
                  of T d and I d t
                    f Trade d Industry



                                       NUCLEAR ENERGY – FINLAND.PPT                                                      39
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                                                          NUCLEAR ENERGY – FINLAND.PPT                                                        40

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Market Research Finland - Nuclear Energy Market in Finland 2009

  • 2. Executive Summary  In 2008, 30% of electricity was generated through nuclear power  Finland has four nuclear power plant units with a total net capacity of 2,656 MW Overview  It is estimated that 4,800 MW of new nuclear generating capacity is required by 2030 to  meet domestic demands meet domestic demands  A new nuclear plant is under construction and three more are expected by 2020  Growth in energy intensive industries Market   Rise in net electricity imports Characteristics  Credit issues faced by players in the market  Rising electricity price and cost effective electricity generation  Legislations governing nuclear activity Legislations governing nuclear activity  Procedure for establishing a nuclear facility in Finland Regulations  Guidelines for obtaining a construction license for a nuclear power plant   Guidelines for obtaining an operation license for a nuclear power plant   The market is dominated by a few players which include – Elektrobudowa Major Players – Teollisuuden Voima Oy  – Fennovoima Oy  – Fortum Power & Heat Oy  NUCLEAR ENERGY – FINLAND.PPT 2
  • 3. •Market Overview •Market Overview •Market Characteristics •Regulations  R l ti •Government Policies and Initiatives •Nuclear Waste Management N l W M •Major Players  •Appendix d NUCLEAR ENERGY – FINLAND.PPT 3
  • 4. Nuclear Energy in Finland is the primary source of electricity  generation  Overview Electricity Production  TWh •Nuclear energy accounted for 30% of total  Nuclear power 90 electricity generated in 2008 80 82 79 78 74 Hydro power •Finland's four nuclear power plant units have a  70 27% 68 28% 29% Natural gas  30% total net capacity of 2,656 MW 60 33% Coal 18% 14% Biofuel  The annual load factors of all the units have  50 18% 23% 40 12% 20% 12% Peat averaged at ~ 90% since its inception  13% 30 9% 19% 3% 13% 20% 15% Others •Major uranium mining areas include M j i i i i l d 20 10% 17% 11% 12% 13% 7% 13%  Eno in eastern Finland, Askola in southern Finland  10 8% 4% 13% 12% 4% 8% 4% 8% 2% 8% 2% as well as in the Uusimaa, Northern Karelia and  0 Lapland provinces 2004 2005 2006 2007 2008 •It has been projected 4,800 MW of new It has been projected 4,800 MW of new  Growth in Nuclear Generation generating capacity is required by 2030   Finland needs new capacity both to meet new  TWh demand growth and to replace old capacity,  69.2 70 primarily coal‐fired plants +5% 60 •Nuclear power development is expected to be  50 the primary measure to cut the CO2 emissions  40 30 towards meeting the countries emission  22.2 20 targets 10 0 2008 2030e NUCLEAR ENERGY – FINLAND.PPT 4
  • 5. The country currently hosts four nuclear plants while  another facility is under construction Existing Nuclear Power Plants Upcoming Nuclear Power Plant •A fifth nuclear power plant – Olkiluoto 3 – is  Plant  Olkiluoto 1 & 2 Loviisa 1 & 2 under construction  Teollisuuden  Fortum Power &  •The plant will have a 1,600 MW European  Operator Voima Oy (TVO) Heat Oy  pressurized reactor Commercial  •Areva in collaboration with Germany's Siemens  1979 & 1982 1977 & 1981 Operation is building the plant for electricity firm TVO is building the plant for electricity firm TVO Licensed Till 2039 & 2042 2027 & 2030 •It is expected to go online in mid 2012 Boiling Water  Pressurized  •The plant was initially expected to be  Type  Reactor  Water Reactor functional by mid 2009 but has been stalled  Power (MWe) P (MW ) 2 x 860 2 860 2 x 488 2 488 due to operational delays d i ld l Production   Areva has invested USD 810 mn on the Olkiluoto  14.4 TWh 8.1 TWh project in the first half of 2009 (’07) Load Factor   The delay of the project is estimated to lead to an  95.6% 95 6% 95.4% 95 4% additional costs of USD 3.4 bn dditi l t f USD 3 4 b ('07) NUCLEAR ENERGY – FINLAND.PPT 5
  • 6. Players are capitalizing on the opportunities in the market  and developing new nuclear plants Other Nuclear Project Expected to be Established Operator TVO Fennovoima Fortum Municipalities of Pyhaejoki,  p y j , Site Sit Olkiluoto Olkil t Hastholmen in Loviisa H th l i L ii Ruotsinpyhtaeae and Simo Capacity (MW) 1,000‐1,800  1,500‐2,500  1,000‐1,800  Pressurized water reactors  European Pressurized reactor,  Pressurized water reactors (VVER‐ Reactor Type (PWR) and Boiling Water  Boiling Water Reactor  (SWR‐ 1000), ABWR, Economic Simplified  Reactor (BWR) 1000) or Advanced BWR (ABWR) BWR Toshiba, GE‐Hitachi, Mitsubishi  Toshiba, GEHitachi or a Russian  Supplier alternatives Areva and Toshiba or a Korean supplier supplier Construction date 2010 2012 NA Application for  Apr‐08 Jan‐09 Feb‐09 Decision‐in‐Principle Operational Date 2020 2020 2020 Cost USD 4.4‐5.9 bn NA USD 5.9‐8.8 bn • The existing infrastructure at  • Plant will provide electricity for  • Facility will be used for combined  Olkiluoto which includes  its owners at production cost,  heat and power production nuclear waste management  with each partner getting a  • The spent nuclear fuel will be  Other Facts and the basic organization  share of output in proportion to  disposed of  at Olkiluoto in Eurajoki will benefit the operator  its share of ownership • Electricity generated will be to all  electricity users l i i NUCLEAR ENERGY – FINLAND.PPT 6
  • 7. •Market Overview •Market Overview •Market Characteristics •Regulations  R l ti •Government Policies and Initiatives •Nuclear Waste Management N l W M •Major Players  •Appendix d NUCLEAR ENERGY – FINLAND.PPT 7
  • 8. Market Characteristics Rising electricity price and cost  Growth in energy intensive  effective electricity generation industries Market  Characteristics  Credit issues faced by players in  the market Rise in net electricity imports NUCLEAR ENERGY – FINLAND.PPT 8
  • 9. The country comprises of major industries with large energy  requirements forwarding growth in nuclear power  Major energy intensive industries Segmentation of electricity consumption •Majority of the power consumed in Finland is  Industry by the industrial sector 25.8% 19.8% Household & Agriculture •The country comprises of industries which are  Services & Construction major consumers of power such as pulp and  3.3% Losses paper, metal and engineering industry, and  shipbuilding p g •According to a survey by TNS Gallup, for  51.0% Finnish power company TVO, it has been  inferred that electricity demanded will  increase in Finland in the next 10 30 years increase in Finland in the next 10‐30 years •The main reasons for the increase in electricity  consumption are expected to be the growth of  11.0% Forest industrial production, the increase in  Meat Processing 15.3% Chemicals automation, the electrification of traffic, and a  automation the electrification of traffic and a 55.8% Others general increase in the standard of living 17.9% NUCLEAR ENERGY – FINLAND.PPT 9
  • 10. Shortfall of domestically produced electricity will drive the  market; players face major credit issues Rise in net electricity imports • The shortfall in electricity generation has led to an increase in net electricity imports • Furthermore, net electricity imports accounted for approximately 15% of energy consumption in 2008 Net Electricity Imported +27% TWh +11% 20 16.9 17.0 15 11.4 12.6 10 +252% 4.8 5 0 2004 2005 2006 2007 2008 Credit issues faced by players in the market • The market has been seen to be risky as many issues crop up affecting credit including  h k h b b ik i ff i di i l di  Construction cost overruns,  Negative public reaction to potential safety and security problems at nuclear plants  Lack of experience with new plant design  Lack of a long‐term solution for storage of radioactive waste leading to long‐term cost uncertainty Lack of a long term solution for storage of radioactive waste leading to long term cost uncertainty NUCLEAR ENERGY – FINLAND.PPT 10
  • 11. Rising electricity prices and the cost advantages of nuclear  power is expected to lead to a growing market  Rising electricity price and cost effective electricity generation • The price of market electricity has been on the rise due to rising demand and shortfall in production • This creates strong opportunities for players to enter the energy market  Averaged Monthly Mean Price USD Cents/KWh Since 2007, the average  10 7.5 monthly mean price of  4.4 44 electricity has risen by  electricity has risen by 5 70% 0 2007 2008 • It has been estimated that electricity generated via nuclear power is most cost efficient in comparison with other It has been estimated that electricity generated via nuclear power is most cost efficient in comparison with other  sources in Finland nuclear energy Price of electricity generated by various sources (2003) +17% USD cents/KWh 4.10 4 10 4.80 4 80 5 3.50 0 Nuclear Coal Natural Gas • Furthermore with emission trading at USD 29 5/t CO2 the electricity prices for coal and gas increase to USD 6 5 Furthermore, with emission trading at USD 29.5/t CO2, the electricity prices for coal and gas increase to USD 6.5  c/kWh and USD 5.8 c/kWh respectively NUCLEAR ENERGY – FINLAND.PPT 11
  • 12. •Market Overview •Market Overview •Market Characteristics •Regulations  R l ti •Government Policies and Initiatives •Nuclear Waste Management N l W M •Major Players  •Appendix d NUCLEAR ENERGY – FINLAND.PPT 12
  • 13. Regulations Guidelines for obtaining an  Legislations governing nuclear  operation license for a nuclear  power plant  activity  Key  Regulation s Guidelines for obtaining a  Procedure for establishing a  construction license for a nuclear  power plant  nuclear facility in Finland NUCLEAR ENERGY – FINLAND.PPT 13
  • 14. Legislations governing nuclear activity  • It establishes general principles governing the regulation of the use of nuclear energy, the  establishment of a licensing procedure and nuclear waste management  • States that a license is required for the manufacturing, production, handling, use and storage of  nuclear materials The Nuclear  Energy Act, 1987 • Radioactive waste management is regulated by this act. It allocates responsibilities between waste  producers and government authorities, incorporates waste management criteria into the licensing  procedure and provides the basis for financing the waste management system  • A license must be procured under this act for the transportation of nuclear materials and waste  issued by the STUK • Aims to protect human health from the adverse effects of radiation  • Regulates all activities that cause or may cause exposure to radiation  The Radiation The Radiation  t as d e e t e e s o ce s g equ e e ts a d app es to o s g, o o s g a d atu a • It has different levels of licensing requirements and applies to ionising, non‐ionising and natural  Protection Act,  radiation 1991 • To obtain a license under this act an application is given to the STUK with information regarding the  equipment and protective shields used in the activities, quality of personnel and work standards, and  the system followed for the disposal of radioactive waste • All mining activities are regulated by this act • The act forwards that in order to execute mining or enrichment operations for producing uranium or  The Mining Act thorium requires a license by the Government which may be granted to Finnish citizens, corporations  or foundations as well as to individuals, entities or authorities residing within the member states of  the European Union  NUCLEAR ENERGY – FINLAND.PPT 14
  • 15. Legislations governing nuclear activity • It makes the operators of nuclear power plants responsible for damages caused to third parties The Nuclear  • The total liability of a nuclear power plant situated in Finland has been limited such that the plant  Liability Act,  1972 must compensate for damages to a maximum of 175 mn Special Drawing Rights • Finland’s international agreements makes contracting countries compensate the injured Finland s international agreements makes contracting countries compensate the injured  Transportation  • Regulates all modes of transportation of radioactive substances of Dangerous  Substances Act • Applies to international and domestic transport Electricity  y Market Act • Opened up access to distribution networks and allows foreign ownership in electricity supply Opened up access to distribution networks and allows foreign ownership in electricity supply Act on  Competition  • Activities must be compatible with the European Community law on competition Restrictions Land Use and  • Requires a land use plan for power plants and other facilities to be built on plant sites, and provides  l d l f l d h f l b b l l d d Building Act guidelines for their planning Environmental  Protection Act • Lays down various requirements relating to environmental protection Law on Water  L W t Resources • Permits are required from environmental authorities for the use of cooling water in power plants Law on Air  Protection • States the limits that the government must impose for non‐radioactive atmospheric emissions Law on  Law on •S States the measures that operators must take while building the facility  in the event of a nuclear  h h k hil b ildi h f ili i h f l emergency  preparedness emergency NUCLEAR ENERGY – FINLAND.PPT 15
  • 16. The procedure for establishing a nuclear facility in Finland Developing a nuclear power plant • There are primarily 4 stages towards the development of a nuclear facility Environmental  Decision in  Construction  Operation  Impact  Principle  License  License  Assessment  • Operator files an  fl application to the  Government for a  • Before the  • Coordinated by the  • Once the DiP is  Decision‐in‐Principle  construction of the  Ministry of  affirmed the  ( ) (DiP) p plant is on the verge  g Employment and  l d operator applies for  t li f • EIA report is  of completion, the  Labor a construction  attached to the  operator applies for  • Operator carries out  license application an operating license  an environmental  • This license is issued  • Government carries  for the facility impact assessment  p by the Government  y out a safety  out a safety • The Government The Government  on the construction  after a rigorous  appraisal from STUK  issues this license  and operation of the  assessment  and a statement  based on various  nuclear facility procedure from the  considerations municipality in the  area  NUCLEAR ENERGY – FINLAND.PPT 16
  • 17. Guidelines for obtaining a construction license for a nuclear  power plant  Environmental  Government Parliament Impact Assessment  Ministry of Trade and  Submits the Government a  Application moves to the  pp Environment (KTM) Environment (KTM) review addressing issues of  Parliament for approval waste management including  methods proposed, safety and  Preliminary safety  environmental aspects, cost and  Grant of the license is  Application for  assessment from  suitability to Finnish conditions  still contingent upon  a construction  t ti STUK public safety, workforce  license    protection,  forwarded by  environmental  the operator protection, town  planning and building  Safety assessment by the  y y Application is approved  pp pp requirement, technical  i t t h i l areas and neighboring  or disapproved by the  expertise, financial  municipal councils Government resources and final  decommissioning Applicant provides  pp p Consultation with government agencies such as the Ministry of Defense, concerned State Provincial Office,  C lt ti ith t i h th Mi i t fD f d St t P i i l Offi information for  Regional Council and Regional environment Centre and Advisory Committee on Nuclear Energy public consultation • Construction and operation of nuclear facilities is prohibited without a license • Licenses are granted to those entities under the jurisdiction of the EU member status Licenses are granted to those entities under the jurisdiction of the EU member status • The Government must reject the proposal if the municipal council responsible for the proposed site opposes the application NUCLEAR ENERGY – FINLAND.PPT 17
  • 18. Guidelines for obtaining an operation license for a nuclear  power plant  Intermediate  Government Authorities KTM assess the financial security  requirements based on the act  b d h related to waste management  Application for  operational  Application moves to the  license   license government for approval   f l forwarded by  STUK  assess the safety, physical  protection, emergency planning,  the operator non‐proliferation requirements  and the financial guarantee that  the operator can cover the  possibility of a nuclear damage  ibili f l d caused by the facility • Operating licenses are granted for a fixed period of time • License period is subject to change during the period of its validity by the Government • The license can be revoked if it undermines any of the acts basic principles, if it dies, loses legal capacity or if the institution becomes  y p p , , g p y bankrupt or ceases to operate the facility for any other reason • License requirements of the Nuclear Energy Act are reinforced by provisions for criminal offences  Offences include use of nuclear energy without the appropriate license, infringement of particular provisions of the act, failure to  observe license conditions, failure to comply with safety, physical protection or emergency planning requirements, or interference  with equipment installed by STUK to monitor nuclear power facilities  The STUK has the authority for search and entry, to access records, take samples and install  monitoring devices. It require the operator  to submit reports and provide information regarding the method of production of fuel or the manufacture of equipment to be used NUCLEAR ENERGY – FINLAND.PPT 18
  • 19. •Market Overview •Market Overview •Market Characteristics •Regulations  R l ti •Government Policies and Initiatives •Nuclear Waste Management N l W M •Major Players  •Appendix d NUCLEAR ENERGY – FINLAND.PPT 19
  • 20. Government Policies & Initiatives  Policies towards reducing  CO2 emission CO2 emission Key  Policies P li i Introduction of a windfall  Major research and  profits tax  fi development activities  d l i ii NUCLEAR ENERGY – FINLAND.PPT 20
  • 21. The governments targets to reduce carbon dioxide  emissions will benefit the nuclear power industry Policies towards reducing CO2 emission • The government has two major targets to be met due to international agreements   The European Union has forwarded directives to cut CO2 emissions by at least 20% by 2020, compared to 1990 levels  Under the Kyoto Protocol, the country must reduce their greenhouse gas emissions by a total of 8% from the 1990 level by the  first commitment period of 2008–2012 – The most significant greenhouse gas, carbon dioxide, accounts for over 80% of all greenhouse gas emissions in Finland • The State of Finland will contribute to this goal by acquiring on average 2 mn tons of emission reductions per  year with the help of the Kyoto flexible mechanisms • It has been estimated that the government shall forward initiatives to develop 4,800 MW of new nuclear power  capacity by 2030 in order to meet the targets  Electricity Procurement by Source of Energy in Finland 2005 2011 The share of emission‐ Gas free energy sources is  Gas 11% Nuclear expected to grow from  Coal, Oil 16% 26% 54% to 66% Nuclear 10% Coal, Oil Coal Oil 34% 7% Imports 7% 20% 12% Imports Wood Waste 15% 5% 17% 16% y , Hydro, Wind 4% Peat  P Hydro, Wind Wood Waste Peat  NUCLEAR ENERGY – FINLAND.PPT 21
  • 22. Major research and development activities carried out by  the State towards developing this segment Overview Sources of Funding •R&D activities have largely focused on safety  and operational performance of the power  4.0% Power Companies 3.0% 3 0% plants, and the management and disposal of  l d h d di l f 4.0% Research Funds waste 11.0% VTT Tekes •Annual funding for national nuclear energy  8.0% EU research is ~USD 69.2 mn Others  Additi Additional funding is received from Tekes, the  l f di i i df T k th 70.0% 70 0% Finnish Funding Agency for Technology and  Innovation •The country has no institutes dedicated to  nuclear research Research Areas  Most research takes place at the VTT Technical  Research Centre of Finland 10.0% •National research programmes on nuclear  0.4% Nuclear Waste energy Management  Nuclear Power Plant Safety (SAFIR2010), 2007– Reactor Safety 28.4% Fusion 2010 61.2% Others  Research Programme on Nuclear Waste  Management (KYT2010), 2006–2010  Euratom – Tekes Fusion Energy Cooperation Euratom  Tekes Fusion Energy Cooperation,  2007–2011 NUCLEAR ENERGY – FINLAND.PPT 22
  • 23. The State plans on implementing a windfall profit tax for  The State plans on implementing a windfall profit tax for  nuclear and hydro power facilities Introduction of a windfall profits tax on nuclear and hydro power plants • The Finnish government plans on implementing a windfall profit tax on the existing nuclear  and hydro power facilities by 2011 and hydro power facilities by 2011 Overview • The Ministry of Employment and the Economy has instated a working group which will look  into the specifics of the tax • The tax is intended to offset windfall profits that utilities with nuclear and hydropower  Purpose generation make selling their free CO2 allocations generation make selling their free CO2 allocations Application • The tax would apply to nuclear and hydropower plants built before 1997  • The tax levied conforms to EU regulations Major  • It should not hamper the competitiveness of Finland's energy intensive industry  Considerations  • Outcome of the tax should not lead to an increase in electricity prices for consumers and  industry Expected Tax  • The tax rates is expected to range from USD 1.5 to USD 14.7 per MWh Structure • Depending on the level, the government has estimated that it will generate between USD 48.6  Financial  mn and USD 486 mn in annual revenue Benefits • This tax is expected to add to the state funds which can be implemented to further the energy  sector in Finland NUCLEAR ENERGY – FINLAND.PPT 23
  • 24. •Market Overview •Market Overview •Market Characteristics •Regulations  R l ti •Government Policies and Initiatives •Nuclear Waste Management N l W M •Major Players  •Appendix d NUCLEAR ENERGY – FINLAND.PPT 24
  • 25. Nuclear Waste Management Developments in nuclear waste  Current scenario management  Nuclear Waste  Managemen t Provisions of nuclear waste  management  Classification of nuclear waste NUCLEAR ENERGY – FINLAND.PPT 25
  • 26. Developments in nuclear waste management  2004‐2009: Ground‐level service and monitoring buildings for  ONKALO under construction. Excavation of the access tunnel to  reach a depth of 420 metres at an investment of USD 103 mn 1983: The Finnish Government set the overall schedule on the  2009‐2011: Research on the mechanical characteristics of the  Finnish nuclear waste management programme and began  Finnish nuclear waste management programme and began bedrock, and layout adaptation of the repository bedrock, and layout adaptation of the repository scanning potential sites for final disposal of spent fuel 2012: Posiva plans on submitting an application for a construction  1987: Interim storage of spent nuclear fuel started in Olkiluoto  license for the final disposal facility with wide scale field research in 5 municipalities for the final  2015: Construction of the final disposal facility to begin disposable site 1970 1980 1990 1995 2000 2005 2020 • 2003:  • 1970: Plans  • 1988:  • 2000:  • 1994:  Municipality  for nuclear  • 1977‐1978: 1977‐1978:  Construction  Construction Olkiluoto   Olkiluoto Parliament  of Eurajoki  waste   Operation of  of low and  was selected  • 2020: Final  banned the  issued a  management  reactors  intermediate  as the site  disposal is  import and  permit for  began with  started in  level waste  for final  expected to  export of  ONKALO ‐ an construction  Loviisa and  repository in  disposal of  begin  nuclear  underground  of the plants Olkiluoto Olkiluoto  spent  waste characterizat began b nuclear fuel l f l ion facility Interim storage  1992: Final disposal of low and intermediate level waste started in Olkiluoto began in  began in 1993: Construction of low and intermediate level waste repository started in Loviisa 1993: Construction of low and intermediate level waste repository started in Loviisa Loviisa 1995: Posiva Oy was established to manage the final disposal of spent nuclear fuel NUCLEAR ENERGY – FINLAND.PPT 26
  • 27. Classification of nuclear waste  Types of nuclear waste under the Nuclear Energy Act  Current nuclear waste scenario in Finland Current nuclear waste scenario in Finland High‐Level Waste Operating Waste p g Decommissioning Waste g (including spent nuclear fuel) (i l di t l f l) • Operating waste consists  of low (LLW) and  of low (LLW) and • The four nuclear power The four nuclear power  • Decommissioning refers to Decommissioning refers to  intermediate level (ILW)  plants produce ~ 70  nuclear waste  waste tonnes of spent fuel a year management actions taken   LLW includes protective  • Spent nuclear fuel can be  after a nuclear power  plastic sheets, tools,  reprocessed but that is not  plant has been closed protective clothing and  protective clothing and the case in Finland. Spent  h i Fi l d S •SSome of the structures in a  f h i towels used in service work fuel is allowed to cool in a  plant become radioactive   ILW consists of the ion‐ exchange resin used to  water pool for a few years,  over time. One of the most  purify the process water after which it is transferred  important structures in  • Operating Waste Operating Waste to interim storage facilities  g this respect is the reactor  p  Olkiluoto 150‐200 m3/yr on the plant site pressure vessel  Loviisa 100‐150 m3/yr  NUCLEAR ENERGY – FINLAND.PPT 27
  • 28. Provisions of nuclear waste management  Provisions under the Nuclear Energy Act  • ”Nuclear waste generated in connection with or as a result of the use of nuclear energy in  Disposal Norm Disposal Norm Finland shall be handled, stored and permanently disposed of in Finland” • Th h dli The handling, storing and permanent disposal of nuclear waste originating from other countries  t i d t di l f l t i i ti f th ti Dumping is forbidden • The nuclear power companies are responsible for all the costs related to nuclear waste The nuclear power companies are responsible for all the costs related to nuclear waste  management, including decommissioning Role of power   The power companies bearing the waste management obligations have established a joint company, Posiva  companies Oy, to execute the necessary research and implementation of spent fuel disposal • The costs of waste management is factored in the price of electricity produced by the nuclear  power plants power plants • The purpose of this fund is to collect, store and reliably invest the funds towards developing  Nuclear Waste  facilities as well as carry out research projects for storing nuclear waste in the future Management • The fund contains approximately USD 2 2 mn The fund contains approximately USD 2.2 mn   Fund • The fund is controlled and administered by the Ministry of Trade and Industry NUCLEAR ENERGY – FINLAND.PPT 28
  • 29. Nuclear waste management is dominated by existing  companies in the nuclear energy segment Nuclear Waste Management Scenario in Finland  • Posiva Oy, established in 1995, is an organization responsible for nuclear waste management  Overview in Finland • The company had a turnover of ~ USD 81 mn in 2008  • Posiva is owned by Teollisuuden Voima Oyj (60%) and Fortum Power & Heat Oy (40%) which  Ownership  p are the largest companies in nuclear power generation • Both companies share the cost of nuclear waste management • Its activities include the final disposal of spent nuclear fuel of the owners including the  construction, operation and eventual decommissioning and dismantling of the final disposal  Activities facility y • It is responsible for research into the final disposal of spent nuclear fuel and also provides  expert nuclear waste management services • The spent fuel which is stored underground in Louviisa and Olkiluoto is expected to be  New Facility New Facility transferred from existing water pool storage facilities to a final disposal area in Olkiluoto  transferred from existing water pool storage facilities to a final disposal area in Olkiluoto • The plant should be functional in around 2020 • The two players in the nuclear power generation market have ownership over the company  Monopolistic Nature which makes it difficult for new players to enter the market considering the importance  placed on nuclear waste management by the Government of Finland l d l t t b th G t f Fi l d NUCLEAR ENERGY – FINLAND.PPT 29
  • 30. •Market Overview •Market Overview •Market Characteristics •Regulations  R l ti •Nuclear Waste Management •Government Policies and Initiatives G P li i dI i i i •Major Players  •Appendix d NUCLEAR ENERGY – FINLAND.PPT 30
  • 31. Players in the Market (1/4) Company Snapshot: Elektrobudowa Corporate Information Financial Performance Headquarters Katowice Revenue Revenue Profit fi USD mn Profit / Loss USD mn  Founded 1953 400 331.7 25 Construction and installation services;  Area of Expertise 300 280.2 20 manufacturing electrical power equipment 191.0 15 Dariusz Manko – Ch i D i M k Chairman   200 118.7 141.0 10 Key People Jacek Faltynowicz – President 100 5 0 0 2004 2005 2006 2007 2008 Business Highlights Business Highlights • The company operates in various business segments     Power generation sector ‐ Technical consulting, engineering, procurement of materials and equipment, electrical works, testing, commissioning and start‐up, service of operated equipment   Power distribution sector ‐ Manufacture of medium voltage and low voltage switchgear assemblies Power distribution sector ‐ Manufacture of medium voltage and low voltage switchgear assemblies  Industrial automation sector  ‐ Executes complex automation projects, data and communication systems for power generation plants,  industrial facilities, civil, industrial and residential construction, public utility facilities • It signed a contract for the electrical works and the participation in the commissioning of the reactor section of a  nuclear power plant in Finland which is under construction  The signed contract is estimated at USD 9.3 mn      Operations began in Mar 2008 and is expected to be completed by 2011 NUCLEAR ENERGY – FINLAND.PPT 31
  • 32. Players in the Market (2/4) Company Snapshot: Teollisuuden Voima Oy  Corporate Information Financial Performance Headquarters Eurajoki Revenue Revenue Profit fi USD mn Profit / Loss USD mn Founded 1969 400 360.5 0 334.0 331.1 Construction of power plants and electricity  319.3 292.8 Area of Expertise 300 ‐20 generation Timo Rajala – Ch i Ti R j l Chairman 200 40 ‐40 Key People Jarmo Tanhua – President and CEO  100 ‐60 0 ‐80 2004 2005 2006 2007 2008 Business Highlights Business Highlights • It is a company owned via a public‐private partnership; 43% ‐ government (including 27% by Fortum) and 57% private • The output of the plants are contracted to each owner based on their share in the company while any unwanted  portion is sold by them to the Nordic market • The companies presence in the energy market  Owns and operates two nuclear power plant units, Olkiluoto 1 and Olkiluoto 2 at Eurajoki  The Meri‐Pori coal‐fired power plant; plans on developing a carbon capture system in association with Fortum  Operates a wind power plant of 1 MW plant capacity with an annual output of ~2 mn kWh • The company has been focusing on developing economical safe and environmentally friendly electricity for its The company has been focusing on developing economical, safe and environmentally friendly electricity for its  shareholders NUCLEAR ENERGY – FINLAND.PPT 32
  • 33. Players in the Market (3/4) Company Snapshot: Fennovoima Oy  Corporate Information Company Ownership Headquarters Helsinki • Enterprises in industry trade and services hold Enterprises in industry, trade and services hold  approximately 30% share, regional and local energy  Founded 2007 companies own approximately 36% share in  Area of Expertise Operate nuclear power plants Fennovoima 08’ Loss – USD 13.5 mn; ’07: Loss – USD 2.5  • Fennovoima has two owners Financials mn  Voimaosakeyhtio has a 66% stake  Key People Juha Rantanen – Chairman   E.ON Nordic has a 34% stake • Altogether it has 64 shareholders including Business Highlights Business Highlights • It plans on constructing a 1500–2500 MW nuclear power plant in Finland • Fennovoima plans on producing electricity for its owners’ needs at production cost basis where each owner will  receive the share of capacity proportional to its ownership in the company • It has begun drafting the required studies for constructing the new nuclear power plant. These include studies related  to the site, safety, technical matters and nuclear waste management issues. Fennovoima is conducting the  Environmental Impact Assessment procedure for three sites • The plant is expected to become operational by 2020 with construction beginning in 2012 NUCLEAR ENERGY – FINLAND.PPT 33
  • 34. Players in the Market (4/4) Company Snapshot: Fortum Power & Heat Oy  Corporate Information Financial Performance Headquarters Espoo Revenue Revenue Profit fi USD bn Profit / Loss USD bn Founded 1998 10 8.3 2.5 Construction of power plants and electricity  Area of Expertise 8 6.6 6.6 2.0 generation 5.6 5.7 6 1.5 Matt Lehti – Chairman  M tt L hti Ch i 4 1.0 Key People Tapio Kuula – President and CEO 2 0.5 0 0.0 2004 2005 2006 2007 2008 Business Highlights Business Highlights • Fortum is a leading energy company in the Nordic countries and the other parts of the Baltic Rim • The Finnish government has a 51% stake in the company  • Its activities cover the generation, distribution and sale of electricity and heat, the operation and maintenance of  power plants as well as energy related services  • Fortum Power and Heat Oy are subsidiaries engaged in nuclear energy activities • The company owns and operates the nuclear plant at Loviisa  and has minority shares of the Olkiluoto nuclear  power  plant and of the Swedish Forsmark and Oskarshamn nuclear power plants • It plans on constructing a new nuclear power plant unit on the island of Hastholmen in Loviisa with a capacity of  1,000‐1,800 MW at USD 5.9 bn – USD 8.8 bn NUCLEAR ENERGY – FINLAND.PPT 34
  • 35. •Market Overview •Market Overview •Market Characteristics •Regulations  R l ti •Nuclear Waste Management •Government Policies and Initiatives G P li i dI i i i •Major Players  •Appendix di NUCLEAR ENERGY – FINLAND.PPT 35
  • 36. Appendix: Government Bodies  Ministry of Employment and the Economy  Ministry of Social Affairs and Health  Ministry of Interior  y Major Bodies ` Ministry of Environment Ministry of Foreign Affairs  Advisory Bodies   Finnish Radiation and Nuclear Safety Authority  NUCLEAR ENERGY – FINLAND.PPT 36
  • 37. Government Bodies (1/3) Ministry of Employment and Economy (previously known as Ministry of Trade and Industry) • Responsible for the use of nuclear energy in Finland • Plays a central role in the licensing system • Supervises and co‐ordinates the long and cumbersome application procedure which involves other ministries, national and local authorities and public hearings • Supervises the implementation of the countries statutory provisions on waste management and administers the State Nuclear Waste Management fund g • Supervises research and development work carried out in the field of nuclear safety Key Bodies • Represents Finland within the European Atomic Energy Community, the International Atomic Energy Agency, the Nuclear Energy Agency of the OECD, and the Nordic Nuclear Safety Research Programme Ministry of Social Affairs and Health  • Develops and guides policies relating to social protection, social welfare and health care p g p g p • Drafts legislation and other regulations on radiation protection, draws up official statements  on radiation protection issues, monitors and guides the development and implementation of  radiation issues • It has administrative and financial responsibilities over the Radiation and Nuclear Safety  Authority which supervises both protection and other radiation legislation issues NUCLEAR ENERGY – FINLAND.PPT 37
  • 38. Government Bodies (2/3) Ministry of Interior  • Responsible for the protection of the general public in the event of an emergency such as a  nuclear incident • It is consulted during various stages of the licensing process under the Nuclear Energy Act Ministry of Environment • The ministry is consulted on the regulation of various aspects of nuclear energy and radiation hazards Key Bodies  • Issues discussed include emergency planning and nuclear waste management • International hearing of the EIA is executed by this ministry which acts as the contact point Ministry of Foreign Affairs  • Licensing authorities must seek their advice on certain applications to export nuclear  material  Advisory Bodies   • Advisory Committee on Nuclear Energy and Advisory Committee on Nuclear Safety  Permanent consultative committee on nuclear energy issues gy  It is appointed by the Government and works in collaboration with the Ministry of Trade and Industry NUCLEAR ENERGY – FINLAND.PPT 38
  • 39. Government Bodies (3/3) Finnish Radiation and Nuclear Safety Authority (STUK) •Functions  Primary functions include – Regulating the safe use of nuclear energy and radiation including radiation monitoring activities – Executing research and development projects on radiation protection – Providing training and information to required personnel – Participates in the licensing process, imposes and enforces the licensing conditions – Assists in safeguards and emergency planning in the nuclear context Key Bodies  Controls the safety of the transportation of nuclear waste and radioactive materials for final disposal •Structure Str ct re  Board of Governors carries out the administrative supervision of the authority  Reports to the Ministry of Social Affairs and Health and to the Ministry of Trade and Industry •Financial Aspect l  Its activities are funded by the annual state budget  The nuclear power companies bear the costs of nuclear regulation and the authority is in a position to set the fee structure based on certain guidelines provided by the Ministry of T d and I d t f Trade d Industry NUCLEAR ENERGY – FINLAND.PPT 39
  • 40. Thank you for your time For an updated report or any customized research requirements, please contact: Gaurav Kumar E‐Mail: gaurav.kumar@netscribes.com; sales@netscribes.com Phone: +91 33 4064 6214; +91 983 030 9715 Netscribes’ Services: RESEARCH & ANALYTICS RESEARCH & ANALYTICS MARKET INTELLIGENCE MARKET INTELLIGENCE CONTENT SOLUTIONS CONTENT SOLUTIONS Investment Research Market Monitoring & Competitive  Social Media Marketing Enterprise Market Research Intelligence Marcom Support Services Patent Research Sales & Prospect Intelligence Content Management Services Syndicated Market Research S di t d M k t R h Listening & Media Monitoring Li t i & M di M it i Book Packaging Services B kP k i S i Brand Surveillance For further details, visit us at: www.netscribes.com About Netscribes Netscribes supports the organic and inorganic growth objectives of global corporations through a combination of Enterprise Market,  Investment & Patent Research, Market & Sales Intelligence, Social Media Monitoring & Management and Custom Publishing solution. Disclaimer: This report is published for general information only. High standards have been used for preparing this market research report;  Disclaimer: This report is published for general information only High standards have been used for preparing this market research report; however, Netscribes, Inc. or “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole  property of Netscribes and prior permission is required for guidelines on reproduction. NUCLEAR ENERGY – FINLAND.PPT 40