Sweden Business Leaders Push for New Nuclear Power Expansion

Center Party leader Elisabeth Thand Ringqvist stands behind the initiative, which includes representatives from the Social Democrats, the Left Party, the Green Party, and the Center Party.

Business Leaders Clash with Green Party over Nuclear Power

The business profiles strongly advocate for a continued expansion of nuclear power in Sweden. “The long-term energy supply must clearly maintain that Sweden intends to build new nuclear power,” they write. This demand places business leaders in direct opposition to the Green Party, which says a flat no to building new nuclear reactors.

The Green Party argues that new nuclear power entails high costs, long construction times, and extensive financial risks for taxpayers. According to the party, expensive subsidies for slow-to-build nuclear power crowd out investments in renewables, leading to higher carbon dioxide emissions in the interim. The party also highlights risks associated with radioactive waste, uranium mining, and the security-political situation.

Government Offers Loans and Price Guarantees for Nuclear Reactors

Expanding nuclear power remains a central project for the Tidö parties. Moderate, Christian Democrat, Liberal, and Sweden Democrat politicians have implemented several measures to facilitate new reactors. These measures include a state-backed financing model where the government covers a significant share of costs through a loan repaid gradually after plants go online. Energy companies investing in nuclear projects are also offered a guaranteed electricity price of 80 öre per kilowatt-hour for over 40 years, with the state covering any shortfall via a new electricity tax.

During the current parliamentary term, the government has received five formal applications for establishing new nuclear power plants across Sweden.