Finland, the European Union’s biggest power consumer per capita, may double nuclear energy production in the next 10 years to wean the Nordic nation off Russian electricity imports that reached a record high in 2009.
Fortum Oyj, Finland’s largest utility, Teollisuuden Voima Oyj, and a group led by E.ON AG want permission to build three reactors in addition to the current four. The government plans to make a decision this month.
“It’s first and foremost to be able to replace Russian electricity imports,” Finance Minister Jyrki Katainen said in an interview. “We should not be dependent on them and there is no sense in paying Russia for electricity we could produce ourselves.” He is chairman of the National Coalition Party, the smaller government coalition member, which supports granting permits to all applicants provided they meet all criteria.
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Electricity consumption in Finland is the highest in the EU and more than double Germany’s per capita use, in part because temperatures in winter can drop to as low as minus 50 degrees Centigrade (minus 58 degrees Fahrenheit). The nation’s main option for increased energy independence lies with nuclear power because it lacks the oil and gas supplies of Russia and Norway.
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In 2009, Finland’s nuclear reactors generated one-third of the nation’s 68.7 terawatt hours of electricity output, while hydropower accounted for 18 percent, Statistics Finland data show. Finland consumed a total of 80.8 million terawatt hours, with the difference made up by imports. Russian electricity cost Finland 365 million euros ($497 million) last year and accounted for three-quarters of all imported electricity, the statistics office said.
http://www.businessweek.com/news/2010-04-15/finland-may-double-atomic-power-to-cut-russia-imports-update1-.html$497 million is the cost of just Russian share of imports (75%) so Finland spends roughly $55 million per TWh on imported electricity.
A nuclear reactor can output about 9 TWh annually (depending on size & capacity factor). That is $520 million in cost avoidance per year. A reactor operating for 60 years could produce $30 trillion worth of domestic power. Finland gets energy security and avoid sending $30 trillion to line Russian pockets over the next 6 decades. Of course with inflation the amount of that power will be substantially more.
Kinda puts the whole $7 billion for a reactor is "too expensive" into context.
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