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Nuclear power plants and hydroelectric power plants in Finland are on strike - the price of electricity has jumped

European Union (, - It’s freezing in Finland, and employees of nuclear power plants and hydroelectric power plants are going to go on strike. The wholesale price of electricity jumped as of February 9.

On February 14-16, Finnish energy workers will go on strike at nuclear power plants and hydroelectric power plants. They will protest against the government's planned labor market reforms.

“This political strike is intended to be a clear warning to the Finnish government that now is the time to start negotiations,” union head Sauli Vantti told Reuters.

The union deliberately chose separate strike days for different power plants to minimize the risk of grid failure, he said.

“If everything goes well, it will not affect production,” Sauli Vantti said. He added that troubleshooting or maintenance would not be possible during the strike.

Strikes will take place at the Loviisa, Olkiluoto nuclear power plants and four hydroelectric power plants with a total capacity of about 6 GW. TVO operates Finland's largest third nuclear power unit at Olkiluoto. They told Reuters it was impossible to predict whether the strike would cause disruption.

“This is completely irresponsible precisely because it is an attempt to shut down our nuclear power plants in the middle of winter, when it is very cold in Finland. A completely irresponsible measure in relation to society as a whole,” Jukka Leskelä, head of the Finnish association of employees of the energy company Energiateollisuus, told Iltalehti.

Judging by data from the NordPool exchange, the market has already responded to the frosts and the strike in Finland. The average price of electricity for the day ahead on February 8 increased almost one and a half times - to 152 euros per MW. At the same time, during peak hours the wholesale cost of electricity in the country will reach 250 euros per MW.

Previously, Finland was protected from disruptions by the fact that it could import additional volumes of electricity from Russia. However, due to sanctions, supplies stopped, and the country began to experience periodic price shocks - due to low green generation capacity, failures at nuclear power plants and a sharp increase in demand due to frost.

“In Finland, a few weeks ago, the price again reached 900 euros per megawatt-hour, in Russia - 25,” said the head of Inter RAO Boris Kovalchuk at a reception with the president this week. He explained that Finland was a traditional market for the export of Russian electricity, supplies were carried out from the North-West Thermal Power Plant and from the Russian energy system, but due to sanctions, supplies stopped.

“When there is no wind and one of the blocks of their Olkiluoto nuclear power plant fails - which, in my opinion, they built for 15 years and could not build, and until now it either works or does not work - this leads to a serious shortage and a sharp rise in prices. That's what's going on with them. The situation is widespread,” said the head of Inter RAO.

Nuclear power plants and hydroelectric power plants in Finland are on strike - the price of electricity has jumped