nuclear-news

Sweden to slug tax-payers for the costs of small nuclear reactors, and big ones.

Sweden plans new nuclear reactors by 2035, will share costs

By Simon Johnson, November 16, 2023

STOCKHOLM, Nov 16 (Reuters) – Sweden’s government said it aimed to build the equivalent of two new conventional nuclear reactors by 2035 on Thursday to meet surging demand for clean power from industry and transport and was prepared to take on some of the costs.

By 2045 the government wants to have the equivalent of 10 new reactors, some of which are likely to be small modular reactors (SMRs), smaller than conventional reactors.

Energy Minister Ebba Busch said the government was planning a “massive build out” of new nuclear power by 2045.

“It’s decisive for the green transition, for Swedish jobs and at heart for the welfare of our citizens,” she told reporters.

……………..critics have pointed to the huge costs and the private sector’s reluctance to invest without guarantees or other incentives – like Britain’s deal with French nuclear developer EDF for its new Hinkley Point C plant which gave price guarantees.

Sweden’s government has already offered 400 billion crowns ($37.71 billion) of loan guarantees to support new nuclear power, which it says is needed to power developments like fossil-fuel free steel production, but said it was now willing to shoulder more of the burden.

“Guarantees are very important, but that won’t be enough,” Finance Minister Elisabeth Svantesson said. “For this type of infrastructure it is going to require the state to take part and share the risk.”  https://www.reuters.com/business/energy/sweden-plans-new-nuclear-reactors-by-2035-can-take-costs-2023-11-16/—

December 5, 2023 - Posted by Christina Macpherson | business and costs, Sweden