MP: A money pit for taxpayers' money

The Social Democrats, the Centre Party and the Green Party are critical of the proposal to let the state subsidize new nuclear power. This will be a drain on taxpayers' money, says the Green Party's spokesperson Daniel Helldén.

» Published: August 12 2024

MP: A money pit for taxpayers' money
Photo: Christine Olsson/TT

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The investigation proposal on how the state should subsidize new reactors involves, among other things, that nuclear power companies are guaranteed a minimum price for the electricity they produce.

The Social Democrats are very skeptical of the proposal.

This becomes a backpack that you tie on taxpayers and the electricity consumer collective for 40 years, says Olovsson.

The risk is that you get much more expensive electricity.

Minimum price of 80 öre

The investigator has proposed that the minimum price should be set at 80 öre per kilowatt-hour in agreements with nuclear power companies. If the market price falls below that, the state will have to cover the rest and finance it with increased tax on electricity consumption.

The Social Democrats' business policy spokesperson Fredrik Olovsson sees a risk that nuclear power companies will negotiate even more favorable terms.

I don't think the government has a mandate to sign 40-year agreements with anyone when they haven't even gone to the election on it, he says.

Olovsson also warns against the proposal that the state should finance 75 percent of the cost of building four reactors by lending out money. The investigator estimates the state loan at 300 billion kronor.

You can only conclude that the government wants to build ten reactors. Then you end up on completely different levels, says Olovsson.

"A money pit"

The Green Party's spokesperson Daniel Helldén states that it is not unexpected that the government wants to invest "enormous amounts of money" in new nuclear power and warns:

This becomes a money pit for taxpayers' money.

He sees a risk that electricity consumers will have to pay an "Ebba Busch tax" on their electricity bills for decades.

Helldén also thinks that the investigation has calculated incredibly low on what it costs to build a new reactor.

Look at all the projects around Europe. It becomes 3-5 times more expensive.

Even Rickard Nordin, who is the Center Party's spokesperson for climate and energy policy issues, is critical.

It is unacceptable that every household should pay hundreds of thousands of kronor to fulfill the government's election promises, he says.

He believes that the government should present the proposals that exist around wind power and other replacement models. Solutions that can be in place and deliver much faster than nuclear power.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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