Connection

popular articles

Algeria: new auction of oil and gas blocks scheduled for October 2025
Natural gas: The top ten countries with the largest reserves
The World’s Largest Dams in 2024
TotalEnergies Faces Historic Decline in European Refining Margins
Denmark Struggles to Meet Gas Storage Targets for Winter 2024-2025

Fortum: Nuclear investments deemed unprofitable at current prices

Fortum, a major energy player in Finland, believes that electricity prices on the Nordic market are not sufficient to make new nuclear projects profitable, despite ambitions in Sweden and Finland.

Please share:

Fortum Oyj, a pillar of Finland’s energy industry, has clearly stated its position on new nuclear investments.
According to Fortum CEO Markus Rauramo, current electricity prices in the Nordic region do not make it economically justifiable to develop new nuclear infrastructure.
The fall in electricity prices from 135.86 euros/MWh in 2022 to an average of 42.01 euros/MWh in 2024 is a key factor in this assessment.
Sweden’s ambitions to build 2,500 MW of new nuclear capacity by 2035 thus appear compromised without stronger economic support.
Sweden has estimated the cost of these new reactors at SEK 400 billion ($38 billion), but Fortum insists that current market conditions are not conducive to such investments.

Optimization strategies and financial adjustments

Despite this unfavorable environment for nuclear power, Fortum continues to adapt its strategy to improve its financial performance.
The company recently announced an operating profit of 233 million euros for the second quarter of 2024, beating forecasts, albeit down on the previous year.
This performance is due in particular to optimized management of its hydro assets and the strategic sale of its solar portfolio in India. At the same time, Fortum is pursuing its plan to reduce fixed costs by 100 million euros by 2025.
The company expects to achieve savings of €50 million by the end of this year.
These adjustments are essential to maintain Fortum’s competitiveness in a market where energy prices are constantly changing.

Impact of the energy transition on the sector

The boom in renewable energies, particularly wind and solar power, has profoundly altered the dynamics of the Nordic energy market. The abundance of this intermittent generation has contributed to falling electricity prices, posing a challenge to the profitability of stable generation projects such as nuclear power.
This situation is forcing players like Fortum to reassess their investment priorities.
Against this backdrop, nuclear projects in Sweden and Finland, while crucial to grid stability, are being held back by economic considerations.
Future decisions will depend heavily on developments in the energy market and government policies aimed at supporting this sector.

Register free of charge for uninterrupted access.

Publicite

Latest news

Hydro-Québec launches a 10 G$ energy efficiency plan by 2035
The UK and Eni finalize financing for CO2 storage project in the Irish Sea
Washington criticises anti-fossil policies at IEA summit
Countries accused of overstating carbon sinks to slow energy transition
Saudi Arabia reduces crude consumption for power generation by 2030

Recently published in

Tepco extracts second radioactive debris sample from Fukushima

Japanese operator Tepco has completed the extraction of a second radioactive debris sample from the damaged Fukushima reactor, a critical technical step in a decommissioning project set to span several decades.
enCore Energy accelerates Alta Mesa uranium project expansion with 32 operational wells
US-based enCore Energy continues to optimise its uranium project in Texas with a record installation rate and strengthened leadership team.
en_1140290958540-11
enCore Energy accelerates Alta Mesa uranium project expansion with 32 operational wells
US-based enCore Energy continues to optimise its uranium project in Texas with a record installation rate and strengthened leadership team.
en_1140290958540-11
Framatome strengthens CERCA unit to maintain nuclear fuel production
Framatome has commissioned a new facility in Romans-sur-Isère to secure long-term production of research reactor fuels and medical isotopes.
en_1140290943540-14
Framatome strengthens CERCA unit to maintain nuclear fuel production
Framatome has commissioned a new facility in Romans-sur-Isère to secure long-term production of research reactor fuels and medical isotopes.
en_1140290943540-14
Flamanville EPR reactor reconnected to grid two days ahead of schedule
EDF reconnected the Flamanville EPR nuclear reactor to the power grid on 19 April, two days ahead of schedule, following a series of technical maintenance works and adjustments on critical components.
en_1140290959540-10
Flamanville EPR reactor reconnected to grid two days ahead of schedule
EDF reconnected the Flamanville EPR nuclear reactor to the power grid on 19 April, two days ahead of schedule, following a series of technical maintenance works and adjustments on critical components.
en_1140290959540-10

TerraPower begins regulatory approval process for Natrium® reactor in the United Kingdom

TerraPower has informed the UK regulator of its intention to submit the Natrium reactor design for evaluation under the Generic Design Assessment (GDA) process, the first step toward international deployment of this nuclear technology.
Framatome and Sizewell C sign contract for EPR reactor instrumentation
Framatome and Sizewell C have signed a contract for the supply, qualification, and pre-assembly of conventional instrumentation for the EPR reactors under construction at Sizewell, strengthening their collaboration on this large-scale project.
en_1140290963540-7
Framatome and Sizewell C sign contract for EPR reactor instrumentation
Framatome and Sizewell C have signed a contract for the supply, qualification, and pre-assembly of conventional instrumentation for the EPR reactors under construction at Sizewell, strengthening their collaboration on this large-scale project.
en_1140290963540-7
Auxiliary works begin for modular nuclear project in Uzbekistan
Uzbekistan has launched the construction of auxiliary buildings for its future modular nuclear reactor, the first export project for the Russian RITM-200N technology.
en_1140290963540-6
Auxiliary works begin for modular nuclear project in Uzbekistan
Uzbekistan has launched the construction of auxiliary buildings for its future modular nuclear reactor, the first export project for the Russian RITM-200N technology.
en_1140290963540-6
Holtec submits final bid for UK small modular reactor selection
Holtec International has submitted its final proposal to Great British Nuclear as part of the competition to deploy several small modular reactors in the UK, joining GE Hitachi and Rolls-Royce SMR in the decisive phase.
en_1140290967540-4
Holtec submits final bid for UK small modular reactor selection
Holtec International has submitted its final proposal to Great British Nuclear as part of the competition to deploy several small modular reactors in the UK, joining GE Hitachi and Rolls-Royce SMR in the decisive phase.
en_1140290967540-4

EDF delays Flamanville EPR restart for the fourth time

The restart of the Flamanville EPR reactor, initially scheduled for 17 April, has now been postponed to 21 April following extended maintenance operations, according to a statement from Électricité de France.
EDF extends shutdown of Flamanville EPR due to additional maintenance operations
EDF announced on April 10 the extension of the shutdown of the Flamanville EPR nuclear reactor, initially scheduled to restart on April 12, due to new maintenance operations within its nuclear zone.
en_1140290969540-3
EDF extends shutdown of Flamanville EPR due to additional maintenance operations
EDF announced on April 10 the extension of the shutdown of the Flamanville EPR nuclear reactor, initially scheduled to restart on April 12, due to new maintenance operations within its nuclear zone.
en_1140290969540-3
France: a fact-finding mission launched on nuclear electricity pricing
The French National Assembly has launched a mission to analyse nuclear pricing and anticipate the effects of the 2026 tariff reform amid heightened tensions over energy costs.
en_1140290949540-7
France: a fact-finding mission launched on nuclear electricity pricing
The French National Assembly has launched a mission to analyse nuclear pricing and anticipate the effects of the 2026 tariff reform amid heightened tensions over energy costs.
en_1140290949540-7
GE Hitachi and Rolls-Royce SMR submit final offer in UK SMR selection process
GE Hitachi and Rolls-Royce SMR have submitted their final offer as part of the modular reactor selection process led by Great British Nuclear in the United Kingdom.
en_1140290952540-6
GE Hitachi and Rolls-Royce SMR submit final offer in UK SMR selection process
GE Hitachi and Rolls-Royce SMR have submitted their final offer as part of the modular reactor selection process led by Great British Nuclear in the United Kingdom.
en_1140290952540-6

The United States and the United Arab Emirates initiate a new civil nuclear agreement

Washington and Abu Dhabi pave the way for renewed civil nuclear cooperation, aiming to strengthen Emirati technological and energy capabilities within a complex regional strategic context.
Duke Energy seeks to extend operating licence for Robinson nuclear plant to 2050
Duke Energy has submitted a request to the US Nuclear Regulatory Commission to extend the operation of its Robinson plant by 20 years, supporting energy stability in the Carolinas.
en_1140290943540-6
Duke Energy seeks to extend operating licence for Robinson nuclear plant to 2050
Duke Energy has submitted a request to the US Nuclear Regulatory Commission to extend the operation of its Robinson plant by 20 years, supporting energy stability in the Carolinas.
en_1140290943540-6
India accelerates towards small nuclear reactors to replace its coal plants
India's largest power producer, NTPC, paves the way for small modular reactors to modernize its aging energy infrastructure and strengthen energy security through significant international partnerships.
en_1140290961540-4
India accelerates towards small nuclear reactors to replace its coal plants
India's largest power producer, NTPC, paves the way for small modular reactors to modernize its aging energy infrastructure and strengthen energy security through significant international partnerships.
en_1140290961540-4
EDF postpones Flamanville EPR restart again to April
EDF has delayed the restart of the Flamanville EPR to 11 April, citing a new maintenance operation, while keeping its 2025 production forecast unchanged.
en_1140290962540-3
EDF postpones Flamanville EPR restart again to April
EDF has delayed the restart of the Flamanville EPR to 11 April, citing a new maintenance operation, while keeping its 2025 production forecast unchanged.
en_1140290962540-3

Fessenheim: EDF faces scrutiny over nuclear recycling project

EDF's plan to build a facility for recycling low-level radioactive metals in Fessenheim is raising significant concerns over health, economics and regulation.
enCore Energy boosts uranium extraction in Texas and restructures its leadership
enCore Energy extracted 50,000 pounds of uranium in March from its Alta Mesa site in Texas, while consolidating its operations through strategic leadership appointments.
en_1140290944540-5
enCore Energy boosts uranium extraction in Texas and restructures its leadership
enCore Energy extracted 50,000 pounds of uranium in March from its Alta Mesa site in Texas, while consolidating its operations through strategic leadership appointments.
en_1140290944540-5
Ontario Power Generation granted licence to build SMR at Darlington
Canada's nuclear regulator has issued Ontario Power Generation a construction licence for a BWRX-300 small modular reactor at the Darlington site, marking a key step in the province’s nuclear development.
en_1140290950540-3
Ontario Power Generation granted licence to build SMR at Darlington
Canada's nuclear regulator has issued Ontario Power Generation a construction licence for a BWRX-300 small modular reactor at the Darlington site, marking a key step in the province’s nuclear development.
en_1140290950540-3
Despite sanctions, Rosatom expands global nuclear influence and secures exports
Despite severe Western sanctions targeting Russian energy, Rosatom continues its international nuclear projects and maintains a steady flow of enriched uranium to Europe and the United States, thus supporting the Russian economy through an effective diversification strategy.
en_1140291018540
Despite sanctions, Rosatom expands global nuclear influence and secures exports
Despite severe Western sanctions targeting Russian energy, Rosatom continues its international nuclear projects and maintains a steady flow of enriched uranium to Europe and the United States, thus supporting the Russian economy through an effective diversification strategy.
en_1140291018540

Poland: New agreement enables revival of AP1000 nuclear plant project

Polskie Elektrownie Jądrowe has signed a development agreement with the Westinghouse-Bechtel consortium, ensuring continuity of Poland's first nuclear plant project after a previous contract expired.
Samsung C&T partners with Fermi Energia to deploy two nuclear reactors in Estonia
Fermi Energia has signed a strategic agreement with Samsung C&T to develop two small modular reactors in Estonia, targeting commercial operation by 2035.
en_1140290951540-2
Samsung C&T partners with Fermi Energia to deploy two nuclear reactors in Estonia
Fermi Energia has signed a strategic agreement with Samsung C&T to develop two small modular reactors in Estonia, targeting commercial operation by 2035.
en_1140290951540-2
China launches financing search for innovative nuclear project
China National Nuclear Corporation mobilizes international investors and financial partners for a unique nuclear project combining two distinct technologies to simultaneously supply industrial heat and electricity, marking a new strategic step for China's energy industry.
en_1140290944540
China launches financing search for innovative nuclear project
China National Nuclear Corporation mobilizes international investors and financial partners for a unique nuclear project combining two distinct technologies to simultaneously supply industrial heat and electricity, marking a new strategic step for China's energy industry.
en_1140290944540
Framatome and TechnicAtome acquire Segault to secure the French nuclear supply chain
Framatome and TechnicAtome have acquired Segault, a strategic nuclear valve manufacturer, thereby blocking a takeover by the American firm Flowserve following opposition from the French government.
en_1140290948540
Framatome and TechnicAtome acquire Segault to secure the French nuclear supply chain
Framatome and TechnicAtome have acquired Segault, a strategic nuclear valve manufacturer, thereby blocking a takeover by the American firm Flowserve following opposition from the French government.
en_1140290948540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS