According to Kai Mykkänen, Finland's next nuclear power project can be either a traditional large nuclear reactor or a new type of small nuclear reactor.
To Finland the planned sixth nuclear power plant did not materialize when Fennovoima's nuclear power project in Pyhäjoki was ditched after Russia started a large-scale war of aggression in Ukraine.
Now the government wants new nuclear power in Finland. Minister of Environment and Climate responsible for energy matters Kai Mykkänen (kok) tells STT that Finland can accommodate significantly more nuclear power in the next 10–15 years, if the electrification of industry goes as planned.
According to Mykkänen, industrial electricity consumption will increase strongly in the coming years, when fossil fuels are replaced by electricity.
“Above all, it is based on the need for an increase in electricity with reliable supply and at a flat price,” says Mykkänen.
He cites as an example the steel company SSAB's plans to switch to fossil-free steel production at the Raahe factory.
Mykkänen does not want to estimate more precisely how many megawatts more nuclear power should be built in Finland. The government's vision is to double the production of clean electricity in Finland, but it also covers other forms of production, such as the rapidly increasing wind power.
According to Mykkänen, in addition to renewable energy that depends on the weather, reliable basic power, such as nuclear power, is also needed.
“And on the other hand, we need weather-proof, fast-starting control power, where, for example, large pumped power projects are a very interesting possibility,” says Mykkänen.
For the government program it is recorded that the government undertakes to accept all applications in principle for additional nuclear power that meet the criteria. Mykkänen considers it possible that such an application for a permit in principle could come to the government's desk during this election period.
Mykkänen highlights the ongoing reports of Fortum and Helsinki's Helen on new nuclear power investments.
At the end of 2022, Fortum started a two-year study on the future conditions for new nuclear power in Finland and Sweden. During the survey work, Fortum has reported on several cooperation projects with domestic and foreign partners.
Last October, Helen and the Finnish startup company Steady Energy, which is developing a small nuclear power plant, said that they were aiming to start nuclear heat production in Finland. According to Helen, there are plans to acquire up to ten 50 megawatt reactor units from Steady Energy.
“There are projects here that might lead to an investment decision and the processing of a permit decision, but nothing has been announced in the church,” says Mykkänen.
I will mute according to Finland's next nuclear power project can be either a traditional large nuclear reactor or a new type of small nuclear reactor.
Small modular reactors (SMR) refer to nuclear power plants with an electrical output of less than 300 megawatts. Small reactor plants are serially manufactured, i.e. they are installed from factory-made modules.
“Some of the experts see that these SMRs are more competitive. Some see that they are still such an unfinished solution that a more traditional (reactor) like this is the one that will be built,” Mykkänen says.
When could the next possible nuclear power project be operational?
“Most likely, we will only be talking about the beginning of the next decade. These nuclear power projects are long in any case”, even if decisions are made in this election period.
Regarding small reactors, Mykkänen sees opportunities in both electricity and heat production. He considers district heating to be perhaps the most interesting application of small nuclear power, which would help cities get rid of burning for heat production and reduce emissions.
In industry, according to Mykkänen, a plant-specific small reactor can be a reasonable solution for some individual industrial plants that need reliable supply and price-protected electricity for a long time.
“I would say that in district heating it is more difficult to see the development of the next 30 years without modular reactors, and then again in industry there are many options.”
Job- and the Ministry of Economic Affairs (TEM) assessed in last year's government negotiations that traditional nuclear power construction is no longer profitable. According to TEM, the problems are expensive and slow construction and rigid regulations.
However, Mykkänen says that after the government negotiations, the perception that the increase in the use of electricity in industry specifically requires a sufficient amount of basic power has only strengthened. He points out that Fortum and Sweden's Vattenfall are currently investigating the construction of both small-scale nuclear power and conventional nuclear power.
“We'll see if we can get investments, but I do trust the situational picture created in connection with the government program, that it is entirely possible that even larger size reactors will be built in the Nordic countries and Finland.”
Government aims to speed up the further construction of nuclear power with the comprehensive reform of the Nuclear Energy Act that is being prepared.
According to Mykkänen, the new Nuclear Energy Act will strengthen Finland's position as an attractive location for the construction of nuclear power, especially in terms of the serial commissioning of small SMR power plants.
“We strive to free small modular reactors from the current burdensome approval-in-principle process that goes through parliament.”
The new Nuclear Energy Act is scheduled to be enacted in 2026.
According to Mykkänen, the Radiation Protection Agency has received additional funds to speed up the licensing of nuclear power. In addition, the regulat
ions of the Radiation Protection Center have already been changed so that small nuclear power can also be built close to populated areas.
“The kilometer limit from the settlement has been removed, and it is always evaluated on a case-by-case basis,” whether there are distance needs or not.
in Sweden the country's government now strongly wants more nuclear power. The one announced in November the plan according to the Swedish government aims for new nuclear power by 2035 in the form of two full-scale reactors, i.e. 2,500 megawatts.
The plan also aims for a “massive” additional construction of nuclear power by 2045. The range of means includes state guarantees, which the Swedish government is ready to provide for 400 billion kroner, or about 35 billion euros.
Mykkänen admits that there is a danger that investments in new nuclear power will not come to Finland but will escape to Sweden.
“Sweden is aggressively creating the conditions for nuclear power. That in itself is a positive thing for us, when we have a common electricity market, that there is enough electricity in Sweden and that it can be transferred between Finland and Sweden in the future even more than at present.”
However, according to Mykkänen, the government assumes that Finland needs its own electricity production.
“It is the basis of our competitiveness in heavy industry.”
Do you have to? In Finland, should new nuclear power projects be carried out on market terms, or can the state, if necessary, support projects with taxpayers' money?
According to Mykkänen, the starting point is that new nuclear power projects can survive on their own income, i.e. electricity sales. At the same time, however, we will find out whether it would be reasonable for the state to facilitate the implementation of projects, for example by granting guarantees or otherwise helping to obtain affordable financing.
Mykkänen says he is upset that the electricity market seems to be going more and more into a “state subsidies auction”. According to him, Finland is not immune to it if Sweden and the rest of Europe prepare to support electricity production investments.
“We cannot afford that these investments are made elsewhere than in Finland because we have nothing to offer.”
However, according to Mykkänen, Finland's strengths must be smooth licensing, a good electricity transmission network and the growth outlook for industrial electricity consumption.
“The most we can offer to nuclear power is that we license projects for electricity-based steel and chemical industry factories,” says Mykkänen.
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