Sweden: Vattenfall Case Study. Annex III (Asset management for sustainable nuclear power plant operation)

In 2014, the profitability of Vattenfall nuclear power plants dropped markedly following a dip in electricity prices combined with a high investment demand due to lifetime extensions. Hence, Vattenfall decided in 2015 to shut down two of the reactors at Ringhals in 2019–2020. For the two remaining reactors at Ringhals and the three reactors in Forsmark, the aim is 60 years of operation, with the last plant closing in 2045.The electricity price is expected to continue to be low due to added capacity of renewables in the Nordic power system. To assure profitability of Vattenfall nuclear power plants, a production cost target has been set at approximately €19/MW·h. A high demand on profitability enhances the need for efficient ageing management and cost efficient solutions. In this process, the principles for asset management according to PAS55‑1:20081 have been a helpful tool.