Oil Report

Finland's TVO says Olkiluoto 3 delayed to 2013

HELSINKI, June 7 (Reuters) - Finland’s delay-plagued Olkiluoto 3 nuclear reactor will start producing electricity only in 2013 -- four years behind the original schedule -- Finnish utility Teollisuuden Voima (TVO) said on Monday.

“The supplier (Areva-Siemens) has informed us that most of the works will be completed by the end of 2012,” TVO said in a statement.

“However, commissioning will take months, which means Olkiluoto 3 will start producing electricity only in 2013.”

The news is the latest setback for Finland’s fifth nuclear reactor, which was originally scheduled to be in operation in 2009. Construction has been plagued by delays and ballooning costs, and both sides have taken the dispute over payment to the International Chamber of Commerce.

Reporting by Brett Young