Our TRT-London: Finland’s new nuclear plant helped slash electricity prices, while EU states going all-renewable face long-term highs.

A lively debate! I defended the Finnish model, as did Finnish expert Rauli Partanen.

Finland, having just completed and put online Europe’s largest nuclear plant, Olkiluoto 3, is considering adding more carbon-free nuclear power plants. Its two older nuclear plants, online since the 1970s and 80s, are operating 24/7 at an impressive 92.8% of full capacity. By comparison, I explained German onshore wind achieved only 19% and offshore only 35% of the installed turbines’ full-rated capacities in 2022 (Calculated from Fraunhofer data – T.O’D.).

Finland also uses its natural endowment of no-carbon hydro wisely, and embraces a limited amount of variable renewables. I explained that this is in contrast to Germany with its (IMHO) over-dependence on renewables and willful destruction of 17 nuclear facilities, which is increasingly requiring installation of expensive new and rebuilt grids, and “grid-scale storage” for when wind and sun are low.

The third guest, the Paris chair of “The Nuclear Consulting Group” was actually anti-nuclear, defending an only-renewables strategy. I found his arguments, generally based on anecdotal expert opinions, as opposed to broad data, unsatisfactory; but consistent with the “100% renewables and no nuclear” school of thought, as I have termed it. (1)

Some facts on Finland’s energy:  According to the International Energy Agency (IEA), Finland has “the world’s most ambitious carbon targets,” planning for neutrality by 2035  (IEA; timestamp 16:35), with 40% of its electricity in 2023 being nuclear (ibid.; timestamp 17:21).  According to the latest (2023) IEA review, “Finland’s nuclear and renewable power strengths provide a solid foundation for reaching its ambitious climate targets.”

  • Here’s the lineup of the show:

TRT London – Round Table. Jun 9, 2023: Electricity bills have spiked across Europe. But, in Finland it’s going in the other direction.

In recent weeks prices have effectively dropped below zero. Some suggest the opening of Europe’s first new nuclear reactor in 15 years is the reason. Others suggest it’s hydropower. What exactly is Finland doing differently?

Host: Philip Hampsheir, in London.

Guests:

  • Rauli Partanen, from Finland: Science writer and analyst on energy and climate; and CEO of “Think Atom.”
  • Paul Dorfman, from Paris: Chair of the Nuclear Consulting Group
  • Dr. Thomas O’Donnell, from Berlin: Global Fellow at the Wilson Center in Washington; and teaches in Berlin.

(1) When feeling less generous, and for rhetorical clarity, I have on occasion characterized the “100% renewables and no nuclear” school of thought as “renewables fundamentalism.”(2) Rather more diplomatically, Dr. Fadi Birol, director of the IEA, has often said, quite correctly, we should not be “egoists’ insisting on accepting “only our favorite form of energy” (paraphrases from a number of his talks), but rather accept “all solutions.” I agree.

My formulation is generally in support of eliminating carbon emissions via a high percentage of nuclear plus a reasonable percentage of variable renewables, so as not to trigger expensive and often infeasible requirements for new grids and grid-scale storage – neither of which nuclear installations require. Just what percentage this would be is very country specific, depending on its wind and solar resources, land availability, wealth, engineering capacities and, crucially, its democratic energy-sector governance capacities. Of course, states should also utilize non-variable or not-so-variable renewables in so far as they are able (e.g., hydro, geothermal, etc.).

(2) Some examples of my recent explanations and uses of the characterization: “renewables fundamentalism”:

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