Finnish nuclear utility Teollisuuden Voima (TVO) said it may cut up to 110 jobs, or 13 percent of its staff, due to decreased power prices and increased construction costs from a delayed nuclear project.
The planned 1,600-MW Olkiluoto 3 nuclear project has been delayed until late 2018, nine years later than originally planned. The delayed project has also affected TVO’s plans to build a fourth reactor at the site, and the government recently rejected TVO’s application to extend the permit, according to Reuters.
TVO and consortium Areva-Siemens have gone back and forth about who is to blame for the delays at Olkiluoto 3. Areva-Siemens filed a claim of approximately $4.4 billion due to additional work, disruption and prolongation of the project. TVO filed a counterclaim in October.
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