Euradwaste '08 - EU Bookshop - Europa

Assessment of Financial Provisions for Nuclear Waste Management
Long-Term Perspective from Finnish Viewpoint
Summary
Eero Patrakka, Jussi Palmu, Kimmo Lehto
Posiva Oy, Finland
The financial provisions for radioactive waste management must be secured in advance and
collected in phase with electricity production due to the long lead times in waste management.
Financing of waste management necessitates reliable assessment of waste management costs.
Sufficiently accurate information of waste management costs is needed also for the evaluation
of the economics of nuclear power, i.e. when new nuclear power plant projects are considered.
The scopes, implementations and progresses of waste management programmes in different
countries are very different. Continuous research and development produces modified
solutions and, consequently, changes cost estimates. Experiences from mechanisms related to
the functioning of global markets and changes in industrial structures show that caution must
be followed when making long-term predictions.
According to the Finnish nuclear legislation the waste producers are responsible for all activities
related to waste management including financial provisions. The provisions are collected
in an external fund managed by the government. As to spent fuel management, direct geological
disposal is stipulated in the nuclear energy act. The provisions collected in the nuclear
waste management fund cover in principle liabilities for the waste generated so far in the operating
NPP units. The cost estimate for spent fuel management of Olkiluoto and Loviisa
NPP's is presented and the impact of various technical and economical parameters discussed.
1. Introduction
Compared to other means of power generation, nuclear power has the disadvantage of producing
very long-lived radioactive waste. Although the waste volumes are relatively minor, radioactive
waste management requires special methods and facilities that will be in operation for decades,
even centuries. This fact is also reflected in the public attitudes towards nuclear power. In the special
Eurobarometer study on radioactive waste in 2008 44% of EU citizens were in favour of nuclear
energy, however, if those against nuclear felt that the issue of radioactive waste were solved,
four out of ten would change their mind.
The solution of radioactive waste management is imperative for expanded use of nuclear energy in
power generation. Concerning low and short-lived intermediate level waste, industrially developed
repositories are operational in most EU member states. Although there are no repositories for high
level waste in operation, there exists wide technical acceptance that deep geological disposal of
high level waste is the best available solution from a safety point of view.
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