TVO produces at cost price electricity for its shareholders,
Finnish industrial and energy companies. The shareholders of these
companies include also 132 municipalities across Finland. The
electricity produced in Olkiluoto is competitive and stable in terms of
both volume and price, and strengthens the operational capabilities of
TVO's owners, both large and small-scale, as well as the success
possibilities of industrial production in Finland.
The Olkiluoto power plant is in an excellent condition in production and engineering sense owing to the modernisation projects implemented in accordance with the principle of continuous improvement, and the sustained development of the competence of the personnel. The high load factors of the Olkiluoto plant units have already for years ranked among the best in international comparison. The high load factors reflect the reliability and safety of operation at the plant units. The good result is based on the good condition of the plant units, obtained through maintenance carried out by professional personnel, and on the continuous improvement of day-to-day operations and safety.
TVO monitors carefully the public acceptance of nuclear power by means of opinion polls and surveys conducted on a yearly basis. According to the stakeholder survey, the attitude of Finnish people towards nuclear power is relatively positive.
The competitiveness of nuclear power has become a source of concern. The operating environment is undergoing a change. The market price of electricity has come down, while the costs related to the production of nuclear power have increased. This has reduced the profitability of electricity produced with nuclear power. In addition to the major nuclear power plant investments currently under way, TVO has reformed its strategy carrying out a reorganisation of functions and developing procedures and practices in order to improve efficiency and effectiveness. The Company is steered towards higher profitability and competitiveness through the implementation of the strategy.