TVO produced approximately 16% of all the electricity consumed in Finland.
TVO operates according to the cost price principle, and produces electricity to its shareholders at cost price. The shareholders cover all of TVO’s operating costs and, in return, receive electricity pro-rata to their respective shareholding. They consume the electricity themselves or sell it on to third parties. The cost price model allows electricity companies and electricity consumers of different sizes to participate in major investments, such as those required for nuclear power, and take advantage of the benefits of large-scale production. TVO’s shareholders include 132 municipalities, which means that the benefits of stable costs and predictability based on cost-price electricity are enjoyed across Finland. Due to the cost price principle, conventional financial indicators cannot be applied to TVO, as they were created for comparing profit-making companies. Indicators that are important to TVO and the shareholders include the amount of electricity produced and the load factors of the plant units.
The most important financial goals of TVO in 2018 comprised achievement of the budgeted production costs and the electricity supply volume specified in the plans. The most important indicators of economic responsibility are presented in the financial statements of 2018.
The third best production year ever for Olkiluoto 2 plant unit
TVO’s Olkiluoto nuclear power plant had a good production year in 2018. The electricity production of the Olkiluoto power plant units, OL1 and OL2, during 2018 was 14,089 (13,415) GWh. The total load factor was 91.1 (87.2) %.
The plant units operated safely. OL1's net production was 6,755 (7,158) GWh and load factor 87.8 (93.1) %. OL2's net production was 7,334 (6,256) GWh and load factor 94.3 (81.3) %.
The production of the OL2 plant unit was the third best result ever in the history of the unit. The production volume and load factor of OL1 did not rise as high as in the previous years due to some major modification and repair works carried out during the annual outage. Thanks to the modifications the nominal output of OL1 was increased from 880 megawatts to 890 megawatts at the turn of the year.
The Finnish Government approved the extension of operating licences for OL1 and OL2 plant units to be continued up till the year 2038. The Government decision was preceded by the statement of the Radiation and Nuclear Safety Authority (STUK) issued in May. According to STUK, the operation carried out by TVO is safe and in conformity with the law, and the Company has the required capabilities, procedures, expertise and resources for the safe continuation of the operation of the OL1 and OL2 plant units up till the year 2038.
In 2018, TVO's investments totalled EUR 176,7 million of which the OL3 project accounted for EUR 107.9 million. 
