Electricity production must also be profitable for nuclear power plants, according to the facility's operator Teollisuuden Voima (TVO). The outpu

Finnish nuclear plant throttles production as electricity price plunges

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2023-05-25 12:00:09

Electricity production must also be profitable for nuclear power plants, according to the facility's operator Teollisuuden Voima (TVO).

The output of Finland's newest nuclear power facility, Olkiluoto 3, has been significantly cut back because electricity has become too cheap, according to the plant's owner, Teollisuuden Voima (TVO).

"Electricity production must also be profitable for nuclear power plants, and when the price is particularly low, there may be situations where output is limited," TVO communications manager, Johanna Aho, said.

Early on Wednesday the market price for electricity dropped below zero cents per kilowatt-hour (kWh) and for hours after that the price was only 0.3 cents per kWh at its highest, according to the country's grid operator, Fingrid.

The Olkiluoto 3 nuclear reactor in Eurajoki, southwest Finland, started regular electricity production in mid-April, about 14 years behind schedule.