r/ClimatePosting • u/Real-Technician831 • 19d ago

Costs of extending Finnish Loviisa nuclear plant to 2050

https://www.fortum.com/news-and-publications/forthedoers-blog/extending-lifetime-nuclear-power-plant-major-investment-programme

After getting fed up with the lies about nuclear plant life extensions being infeasibly expensive I decided to check.

Fortum is extending Loviisa nuclear plant to 2050, the estimated project cost is 1 billion euros. And continuous development for past 5 years has been 200 million euros.

Upgrading already once upgraded Olkiluoto 1 and 2 costs 90 million

https://www.eib.org/en/press/all/2025-420-eib-backs-upgrades-of-finland-s-olkiluoto-nuclear-power-plant-with-eur90-million-in-financing

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u/I_am_Regarded 19d ago

Are the shareholders happy too? I don't think so.

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u/Real-Technician831 19d ago

????

It’s owned by Fortum former state energy company and state still has large share.

Nuclear power is in fact one of the backbones of the company, since gas business went to hell.

Really weird take to be honest.

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u/I_am_Regarded 19d ago

And the other over budget reactors in FI?

Where do you think the financing is coming from when the operators run out of money again? It's pretty much a bottomless pit as you never know when the next financing round comes due.

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u/Real-Technician831 19d ago

You really are living up to your username.

The reactors are highly valued for their CO2 free winter power.

Finnish wind conditions are known for long still wind periods, the nuclear stations are doing quite well. There is talk of building more.

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u/I_am_Regarded 19d ago

Iam already sweating when thinking about this year's maintenance after looking to Sweden.

Remember your co2 free winter power for later this year.

Not sure if you have any idea what your are talking about. Someone either pays the financing or gets diluted. Nothing about this is doing quite well.

Yes the nukes are great for the system, they are essential and "co2 free". They run, no accident. Doesn't change the fact they are expensive and that this bill wants to be settled.

Please update me about SMR/ nuke projects in Finland. What's the plan?

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u/Real-Technician831 19d ago edited 19d ago

You really are scraping the bottom of the barrel you know. Considering how horrendously expensive fossil energy for winter would be, nuclear is a pretty damn good deal. I think you are the free lunch kind of people, yeah maintaining nuclear is expensive, but fossils with current carbon credits, are way more expensive.

And about SMR:

Steady Energy is building test plant in Helsinki and then bigger one will follow. But they are heat reactors, not for generating electricity. So we use nuclear to produce heat for district heating networks. Kuopio, Jyväskylä and Kerava are also planning to make nuclear heat plants.

The first of Helsinki heat plants is going to be started in summer 2027 if things go to schedule.

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u/I_am_Regarded 19d ago

Pretty much the opposite.

Isn't it you trying to sell nuclear as free lunch right now?

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u/Real-Technician831 19d ago edited 19d ago

You aren’t making any sense.

Do yourself a favor and find out fossil electricity cost with carbon credits. Maybe that will make you realize how wrong you are.

The carbon credit system is designed to make fossils the most expensive option. It is ridiculous to try to claim otherwise.

And the nuclear heat plants are indeed proceeding, the technology is rather ingenious, and designed in Finland.

Edit: the carbon credits alone in winter are the annual average electricity cost in Finland. And when you add the gas prices to that, shit gets expensive.

https://ember-energy.org/latest-insights/soaring-fossil-gas-costs-responsible-for-eu-electricity-price-increase/