According to a study, the comparison of the three applicants for a nuclear power plant shows that the benefits of reasonably priced electricity are most equally divided if Fennovoima is the one constructing the next new nuclear power plant. In case Fennovoima's project is realized, local electricity companies and new sectors of business in Finland will get access to benefits of reasonably priced electricity.
Fennovoima's project benefits sectors that are crucial for the national economy, such as metal industry, food industry and trade. So far, businesses representing these sectors have not had ownership in nuclear power generated, reasonably priced electricity. The study shows that in TVO's project the benefit of forest industry would be strong at the cost of other industries and the trade. In Fortum's project, the company itself would be getting the benefits.
The study proves that Fennovoima offers the possibility to get cheaper electricity for households and small enterprises, too. Two thirds of Finnish local electricity companies are shareholders of Fennovoima. Most of these 48 electricity companies are owned by municipalities. According to the study, the retail price of Fennovoima's electricity company shareholders could decrease as much as 10 per cent.
The study "The Effects of Nuclear Power Investments on the Firms’ and Households’ Electricity Prices" examines the influences of the three projects on the Finnish economy. The study has been carried out by Pellervo Economic Research Institute (PTT) and Labour Institute for Economic Research (PT). In addition, Professor Markku Ollikainen from the University of Helsinki has participated in the making of the study. The study was financed by Fennovoima.
The study is available in Finnish at Pellervo Economic Research Institute's homepage.