Good News from Fri, 31 July, 2009:

Industrial executives foresee an increase in electricity consumption

Lehtikuva / Antti Aimo-Koivisto
Despite the economic recession and increases in energy efficiency, most executives of large Finnish industrial enterprises estimate that the demand for electricity will increase in Finland over the next 10-30 years. One out of every ten believes that general electricity consumption will increase significantly and three out of every four of the industrial executives estimate that the demand for electricity will be slightly higher than at present.

Only eight percent of the industrial executives believe that there will be no significant change in current levels of consumption, and five percent estimate that the demand for electricity will decrease. According to the executives, key reasons for an increase in the demand for electricity are an increase in industrial production, the increased use of automation, the electrification of transportation and a general rise in the standard of living.

This data was obtained from a TNS Gallup Oy survey, in which 101 top or upper level executives from major Finnish industrial companies were interviewed in June 2009. The survey was commissioned by Teollisuuden Voima Oyj.

According to Anneli Nikula, Teollisuuden Voima Oyj's Corporate Adviser, the survey shows that there is a need for additional capacity in electricity production in Finland.

- The results also support our viewpoint concerning the need for electricity production capacity. Although the decision-in-principle application for Olkiluoto's fourth nuclear power plant unit was submitted in a different economic climate, the basis for the application remains the same. Additional capacity is needed to meet not only growing consumption, but also to replace import electricity and ageing power plants, she explains.

www.tvo.fi



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