Parliament gave Fennovoima Decision-in-Principle

The Finnish Parliament has given Fennovoima a positive Decision-in-Principle regarding construction of a nuclear power plant. The Parliament voted on 1st July.

Fennovoima and its 64 shareholders are very pleased with the Parliament's decision. Fennovoima is delighted that the MPs recognized the need of the company's owners to have reasonably-priced and emission-free nuclear power. So far only small shares in nuclear power production have been available for them.

Fennovoima brings new competition to the electricity market. This will benefit the entire national economy and all Finnish electricity users.

The new nuclear power company Fennovoima improves Finland's security of supply as the power plant is to be located to a new site, dozens of new nuclear power owners will enter into the market and a new nuclear power expert will emerge.

Parliament requires that the Government contributes to starting assessment and negotiations during 2010 between Posiva, Posiva's owners and Fennovoima regarding the final depositing of spent nuclear fuel. Fennovoima is prepared to act in accordance with the will of Parliament.

Fennovoima has prepared and planned its project since 2007 and now that the company has been given a Decision-in-Principle, it is ready to proceed rapidly and effectively.

>> Read the press release and more about Fennovoima's schedule.