EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Challenges in Cost Estimation of Geological Disposal: Optimisation as a Goal

EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Nuclear Power in Finland Today and Tomorrow (?) Fennovoima Oy

Teollisuuden Voima Oyj Hanhikivi 1 –

Pyhäjoki

Fortum Oyj

Eurajoki Olkiluoto 1 – 880 MW Olkiluoto 2 – 880 MW Olkiluoto 3 – (1630 MW) Olkiluoto 4 –

Loviisa

Loviisa 1 – 496 MW Loviisa 2 – 496 MW 2

EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Arrangement for Nuclear Waste Management TEOLLISUUDEN VOIMA OYJ

Olkiluoto Power Plant

FORTUM POWER AND HEAT OY

Interim storage of Spent Nuclear Fuel

Interim Storage of Spent Nuclear Fuel

Loviisa Power Plant

POSIVA OY

Operating Waste Repository

Operating Waste Repository

Geologic Disposal of Spent Fuel at Olkiluoto

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EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Financing of Nuclear Waste Management in Finland •

Who will pay – Nuclear Power Companies TVO and Fortum are responsible for implementation and costs for nuclear waste management including disposal

•

How much – Total cost for waste management includes storage, disposal of LLW/ILW, decommissioning waste and spent fuel – Depends on the lifetime plan and technical designs • The cost estimate for the disposal of spent nuclear fuel assumes that the existing nuclear power plant units and the one under construction will be in operation for 50-60 years

•

When – Provisions to cover the cost for nuclear waste management are collected in advance by the producers of nuclear electricity • A segregated fund manages the financial provisions for covering the future liability 4

EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Considerations for Cost Estimation • Challenges – Lifetime plan extends to 100 years and beyond – Waste management programme likely to encounter changes

• Credible cost estimate benefits from – Goal oriented, long-term programme with flexibility – Stable political framework • Well-defined licensing system • Political decisions are made early and respected afterwards

– Established regulatory requirements • Requirements are based on good science and technology and possible to implement

– Safe and advanced technical designs • Known geological environment and defendable safety concept • Preference on proven technology instead of unexplored solutions

– Description and plans for the operation of disposal facility

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EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Lifetime Plan

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EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Liability, Total Cost Estimate and Cash Flow based on Lifetime Plan

EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Posiva’s Encapsulation Plant and Deep Repository at Olkiluoto (plan for 9000 tU)

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EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Total Cost Estimate for Spent Fuel Disposal Spent fuel disposal from Olkiluoto 1-3 and Loviisa 1-2, 5500 tU (December 2009, no discounting)

Construction Above ground facilities Repository (incl. ONKALO) Operation Encapsulation plant Canisters Repository Transports Decommissioning and sealing Dismantling and waste management Repository closure and sealing Total (Million €)

700 150 550 2,420 1,200 580 630 20 200 10 190 3,320

EURADWASTE '13 8th EC Conference on the Management of Radioactive Waste Co-organised by 14-16 October 2013, Vilnius, Lithuania

Reference Scenario for Spent Fuel Disposal •

Designed for optimal layout of the safe repository in concert with thermal constraint – Canister-buffer interface limited to