News Column

Best production year in TVO’s history

February 27, 2014

The turnover of the Teollisuuden Voima Oyj Group for 2013 totaled EUR 365.9 (352.2) million. Electricity delivery to shareholders stood at 15,331 (14,853) GWh. The combined load factor of the plant units was 95.1%. Despite some unplanned outages, the Olkiluoto nuclear power plant achieved the best production output of its history, 14.63 TWh of electricity, in 2013. The OL1 plant unit reached a new record output, 7.47 TWh. Olkiluoto accounted for approximately 17% for all the electricity produced in Finland.

In fall 2013, TVO’s Olkiluoto nuclear power plant celebrated 35 full years of production operations. After the first few years, the plant units’ load factors have remained constant at a high international level. At the beginning of November (November 1, 2013), OL2 achieved the milestone of 200 TWh in commercial production.

After the end of the period under review, in February 2014, TVO announced that it has not received from the plant supplier the requested update of the overall schedule for the Olkiluoto 3 project. Therefore, TVO is not able to provide an estimate of when the plant unit will be completed. TVO has required that the plant supplier, who is responsible for the project schedule, provide an updated overall schedule and an account of the measures to be carried out to ensure the appropriate progress of the project. When the plant supplier submits the required new schedule, TVO will be able to announce when production operations at OL3 will begin.

In January 2013, TVO received offers for the new Olkiluoto 4 (OL4) plant unit from all plant suppliers included in the competitive bidding process. Investigation of the licensing potential and suitability of the plant alternatives together with the plant suppliers continued.

In May, TVO and WÄrtsilÄ Finland Oy signed an agreement on the delivery of emergency diesel generators and their auxiliary systems to Olkiluoto. The emergency diesel generator replacement project is TVO’s largest single plant modification project to date, with a total investment of more than EUR 100 million. The project is expected to last until 2020.

TVO’s joint venture Posiva submitted a construction license application on the final disposal facility for spent nuclear fuel at the end of 2012, and supplemented the application in 2013.

For further information, please contact:

Senior Vice President Anja Ussa, Finance, tel. +358 2 8381 6100

Please find attached TVO’s Report of the Board of Directors and Financial Statements 2013. Teollisuuden Voima Oyj is a Finnish nuclear power company founded in 1969 for safe and reliable production of electric energy to the Finnish society at a reasonable price. The nuclear power generated at TVO's Olkiluoto plants accounted in 2012 for ca. one sixth of the total energy consumption in Finland. Clean energy production not only benefits the Finnish society but also contributes to the global reduction of environmental impact.

This information was brought to you by Cision,c9543498

The following files are available for download: TVO Report of the board of directors and financial statements 2013 final

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Source: Cision

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