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jltsiren 9 hours ago

The difference between baseline and peak electricity consumption in Finland is >2x. That's mostly driven by heating. Because renewables make electricity cheap on the average, utility companies invest in cheap heat storage systems such as sand batteries. They use electricity when it's cheap, store the heat, and distribute it when it's needed.

As for nuclear, the challenge is finding companies that are able and willing to build it. Areva and Rosatom both failed at the "able" part. And a power company (I think it was Fortum) recently stated that they would consider building new nuclear reactors with German electric prices but not with Finnish prices.

There is more to that than a power company asking for subsidies. Finland is a small country. Olkiluoto 3 alone generates >10% of the electricity. Newer reactors would likely be smaller but still ~10% of the total. Finnish power companies are too small to take risks like that on their own. They can't build new reactors at their own risk, in order to sell the power in the market. Before a reactor gets built, the power company needs long-term commitments from industrial users and utility companies to buy power for a guaranteed price. Such commitments would make sense for the buyer with German electricity prices but not with Finnish prices.

epistasis 8 hours ago | parent [-]

I think this is exactly right, and people are focusing on the wrong risk with nuclear. It's financial risk, not safety risk, that is the biggest burden for more nuclear.

Finland was very very wise and savvy to get a fixed price contract for Olkiluoto 3. The final cost was far far far above its price, and France ended up paying that price. I'm not sure if you'll see a builder go down that route any time soon again.

intrasight 8 hours ago | parent [-]

> It's financial risk, not safety risk

If that's the case, then why does the indistry demand the repeated renewal of the Price-Anderson Nuclear Industries Indemnity Act?

epistasis 7 hours ago | parent [-]

Well that covers the financial risk from the safety risks... but even if it were purely about safety it's an act that's part of making the safety not be an issue. Unless it were not renewed, then it would be a problem agai.