Provisions related to nuclear power are covered in the financial statement, note 30, Nuclear related assets and liabilities.
In Finland and Sweden, the producers of nuclear waste are responsible for management and final disposal of the nuclear waste and for the related costs. In Finland, nuclear waste management principles and timetables were decided on already back in the 1980s, and the construction of waste
management solutions has advanced according to plans.
The licence holders are responsible for the management of power plant waste generated during the operation of the Loviisa and Olkiluoto nuclear power plants and for the management of future decommissioning waste. The practical implementation of the final disposal of spent nuclear fuel from the companies is handled by Posiva Oy, which is co-owned by Fortum and TVO. Posiva Oy’s construction licence application for the spent nuclear fuel encapsulation plant and final disposal facility is currently under assessment by the Government and the Radiation and Nuclear Safety Authority STUK. The Radiation and Nuclear Safety Authority noted in its statement in February 2015 that the plant can be built to be safe. Preparedness to start final repository operations is estimated to be achieved around 2020.
Svensk Kärnbränslehantering AB (SKB) handles the final disposal of the nuclear waste generated by Fortum’s co-
owned nuclear power plants in Sweden. In March 2011, the company submitted a construction licence application to build an encapsulation and final disposal plant for spent fuel; the application is still being reviewed by the authorities. The final repository for spent fuel is planned to be built at Forsmark. After construction and a test-run period, disposal operations could start in the late 2020s.