Evidence has come to light suggesting that cheap labour is being employed at the construction site of the Olkiluoto 3 nuclear power plant on the Finnish west coast. At worst, some Polish workers are paid less than two euros an hour.
A Polish electrician who wishes to remain anonymous told YLE that the dearth of jobs in his home country drove him to seek work at Olkiluoto. The man says it took him some time to realise he was being short-changed.
The project director of the Olkiluoto 3 nuclear power plant, Posiva President Reijo Sundell, insists there is no space for waste from utilities other than TVO or Fortum in the Onkalo underground disposal site on Finland's west coast.
Onkalo (or ‘cave’) is being dug into the bedrock near the Olkiluoto power station by Posiva, which is 60 percent owned by TVO and 40 percent by Fortum. The latter utility owns two commercial reactors in Loviisa on the south-east coast, and has applied to build a third. TVO has two operating reactors on Olkiluoto, an island in the municipality of Eurajoki, on the west coast between Rauma and Pori.
The Decision-in-Principle (DiP) in 2002 to build a fifth nuclear power plant made Finland the center of attention when the nuclear power industry began to see its chances. Finland is the first country to have made a decision on final storage of nuclear waste. Finland is also the only Nordic country in which energy consumption is rising.
The decision of France's AREVA to take a EUR400mn charge on its Finnish nuclear reactor project, combined with a planned French nuclear plant shutdown is hurting AREVA's bottom line.
After state-owned AREVA, the world's largest uranium miner, announced last week it would take a 400 million euros (US$491mn) charge due to cost overruns at its Finnish nuclear plant project, Standard & Poor's Monday downgraded the company to a `BBB+' rating, citing continued weakened profitability.
Constant hold-ups, skyrocketing costs, faulty construction…Finland’s new Olkiluoto reactor, touted as the great white hope for Europe’s nuclear sector, is looking more and more like a great white elephant – and casting a fat black shadow over the whole industry.
BERLIN, Feb 12, 2010 (IPS) - The enormous technical and financial risks involved in the construction and operation of new nuclear power plants make them prohibitive for private investors, rebutting the thesis of a renaissance in nuclear energy, say several independent European studies.
The risks include high construction costs, likely long delays in building, extended periods of depreciation of equipment inherent to the construction and operation of new power plants and the lack of guarantees for prices of electricity.
The executives of electric utilities worldwide are dreaming of a renaissance in nuclear power. But problems with a new, state-of-the-art reactor in Finland suggest that this is unlikely to happen. The industry's alternative strategy is to modernize older plants to drastically extend reactor lifetimes.
The managers at Finnish electric utility TVO expressed one last wish before ordering what would be the world's largest nuclear power plant from Siemens and the French nuclear power conglomerate Areva. They wanted the reactor to be painted oxblood red and white, the traditional colors of the picturesque summer homes on Finland's western coast.
OLKILUOTO, Finland — As the Obama administration tries to steer America toward cleaner sources of energy, it would do well to consider the cautionary tale of this new-generation nuclear reactor site.
The massive power plant under construction on muddy terrain on this Finnish island was supposed to be the showpiece of a nuclear renaissance. The most powerful reactor ever built, its modular design was supposed to make it faster and cheaper to build. And it was supposed to be safer, too.
Power company TVO denies that Finland's Nuclear and Radiation Safety Authority (STUK) has threatened to stop construction of a nuclear reactor at its plant in Olkiluoto. Nonetheless both TVO and French contractor Areva say they take the criticism seriously.
TVO and Areva admit that plans for an automation safety system have been delayed, but say that STUK has not suggested it would order a stop to construction for this or any other reason.
PARIS, Nov 12 (Reuters) - France's EDF plans to start the new-generation EPR reactor under construction at the Flamanville nuclear site in northwest France in 2012, and not in 2013 as stated by Areva earlier, EDF said on Wednesday.
"EDF confirms the European Pressurized Reactor (EPR) will start in 2012," EDF said in a statement.
