Fennovoima in brief

Fennovoima is a Finnish energy company that aims at constructing a new nuclear power plant. Fennovoima submitted its application for the Decision-in-Principle to the Finnish Goverment in January 2009. The Government and Parliament granted Fennovoima the Decision-in-Principle in 2010. The operation of the plant is scheduled to start by 2020.

Fennovoima will produce electricity for its owners’ needs at production cost. Each owner will get the share of capacity proportional to its ownership in the company. Approximately one-third of the capacity is reserved for regional and local energy companies, about one third for industrial and trade enterprises, and the remaining third for E.ON Kärnkraft Finland.

By increasing competition in the electricity market in Finland, Fennovoima wants to ensure the supply of reasonable- and stable-priced electricity for enterprises as well as for Finnish households.