The price of electricity on the exchange is expected to rise on Tuesday due to an interruption in Olkiluoto 3’s electricity production. Risto Kinnunen, an expert at energy service company Väre, believes that the price may increase considerably, potentially reaching 30 cents per kilowatt-hour or higher.
The failure of Olkiluoto 3 was caused by a faulty temperature measurement of the generator’s cooling system. TVO, the responsible company, estimates that production will start again at noon on Tuesday. This interruption covers approximately 14% of Finland’s electricity needs.
According to Kinnunen, the price of electricity on the stock market will drop on Wednesday due to the resumption of Olkiluoto 3’s production and an increase in wind power generation. However, weather conditions are expected to be windless and colder by the end of the week, leading to fluctuations in hourly prices.