World Energy Outlook 2006

Operating Licence (COL). The Energy Policy Act (EPACT) of 2005 includes
additional incentives for new nuclear power plants: the extension for a period
of 20 years of the Price-Anderson Act, which limits liability to third parties to
about $10 billion; a production tax credit of 1.8 cents per kWh for up to
6 000 MW of generating capacity from new nuclear power plants for a period
of eight years; standby support in the event of certain nuclear plant delays; and
loan guarantees for up to 80% of the total cost of the project.
Finland is the only country in OECD Europe and one of the three OECD
countries (with Japan and the Republic of Korea) having a nuclear power plant
under construction as of September 2006. 4 Construction of a European
Pressurised Reactor (EPR) started in Finland in August 2005. The reactor will
be the third at the Olkiluoto site of the power company TVO. The process that
led to a decision to build a reactor started in 1999 (Table 13.4).
Table 13.4: Timeline Leading to the Construction of a New Nuclear
Reactor in Finland
Date Outcome
1998-1999 TVO conducts and submits environmental impact
assessment report to Ministry of Trade and Industry (MTI).
2000 TVO submits application for decision-in-principle.
2001 Preliminary safety assessment. Statements by the
municipalities where the plant is expected to be built.
Public hearings.
2002 Favourable decision-in principle by the government.
Parliament vote approves the decision.
2003 TVO selects its Olkiluoto site to build a third reactor.
2004 TVO applies for construction licence.
2005 MTI grants licence. First concrete in August.
2010 Expected start-up (planned for end 2009
– project now running 12 months late).
Source: Based on information provided by the Ministry of Trade and Industry, Finland.
In May 2006, France’s EDF announced its decision to build an EPR at its
Flamanville site, where there are two other reactors in operation. Construction
of the reactor is due to start in 2007 and it is expected to be completed by 2012
(Table 13.5).
4. Based on IAEA’s definition of “under construction” and included in PRIS database.
352 World Energy Outlook 2006 - FOCUS ON KEY TOPICS
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