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

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.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Stockholm Stocks Rebound but Face
2 MIN READ

Stockholm Stocks Rebound but Face Uncertainty as Wall Street Wavers

Gunvor Faces 42 Percent Profit
1 MIN READ

Gunvor Faces 42 Percent Profit Drop in 2024 Despite Revenue Boost

Hooters Files for Bankruptcy, Plans
1 MIN READ

Hooters Files for Bankruptcy, Plans to Sell Company-Owned Locations

Eurozone Unemployment Drops to 6.1
1 MIN READ

Eurozone Unemployment Drops to 6.1 Percent in February

Eurozone Inflation Drop Fuels Hopes
2 MIN READ

Eurozone Inflation Drop Fuels Hopes for ECB Rate Cuts

Swedish Central Bank Boosts Dollar
1 MIN READ

Swedish Central Bank Boosts Dollar Holdings in Reserve Shift

Central Bank Deputy Predicts Inflation
1 MIN READ

Central Bank Deputy Predicts Inflation Easing in Sweden

Tesla Faces Significant Decline in
1 MIN READ

Tesla Faces Significant Decline in Swedish Car Registrations

Sweden's New Industrial Deal Sets
3 MIN READ

Sweden's New Industrial Deal Sets Wage Growth for 2025-2027

Snus Delivery Strike Averted as
1 MIN READ

Snus Delivery Strike Averted as Union Reaches Agreement

Swedish Manufacturing Gains Momentum as
2 MIN READ

Swedish Manufacturing Gains Momentum as Eurozone Shows Positive Trends

Positive Outlook for Harvest Season
1 MIN READ

Positive Outlook for Harvest Season Despite Challenges Ahead

Sweden's New Industrial Agreement Brings
2 MIN READ

Sweden's New Industrial Agreement Brings Stability in Uncertain Times

Stockholm Stocks Rebound with Global
2 MIN READ

Stockholm Stocks Rebound with Global Markets as Key Shares Rise

Gold Prices Hit Record High
1 MIN READ

Gold Prices Hit Record High as Tariff Decision Looms

Australian Central Bank Holds Rates
1 MIN READ

Australian Central Bank Holds Rates Steady, Signals Caution on Inflation

Bankruptcies Rise Again with Hotels
1 MIN READ

Bankruptcies Rise Again with Hotels and Restaurants Hit Hardest

Asian Markets Rebound as Investors
1 MIN READ

Asian Markets Rebound as Investors Await Tariff News

Trump's Global Car Tariffs Begin
3 MIN READ

Trump's Global Car Tariffs Begin as Broader Trade Measures Loom

Open AI Secures Record 400
1 MIN READ

Open AI Secures Record 400 Billion Kronor Investment Boost

Swedish Industry Reaches 6.4 Percent
2 MIN READ

Swedish Industry Reaches 6.4 Percent Wage Agreement Over Two Years

Genre image
1 MIN READ

Swedish Industry Sets 6.4 Percent Wage Increase in New Agreement

US Stock Markets Mostly Rise
1 MIN READ

US Stock Markets Mostly Rise Despite Tariff Concerns

EU Stands Firm Against Trump's
2 MIN READ

EU Stands Firm Against Trump's Tariff Threats, Says Swedish Minister

Latvia Secures 2.1 Billion Kronor
1 MIN READ

Latvia Secures 2.1 Billion Kronor Deal with Saab for Air Defense Systems

Renault Acquires Full Ownership of
1 MIN READ

Renault Acquires Full Ownership of Renault Nissan Automotive India

1,700 Jobs Saved as Northvolt
2 MIN READ

1,700 Jobs Saved as Northvolt Navigates Bankruptcy in Sweden

Swedish Pension Saver Loses Appeal
1 MIN READ

Swedish Pension Saver Loses Appeal in Falcon Funds Fraud Case

Huawei Reports First Quarterly Loss
1 MIN READ

Huawei Reports First Quarterly Loss in Years Following Sanctions

France Fines Apple 150 Million
1 MIN READ

France Fines Apple 150 Million Euros for Competition Violations

Maurel & Prom Shares Drop
1 MIN READ

Maurel & Prom Shares Drop 15 Percent After Venezuela License Revoked

Norwegian Oil Fund Invests 1.4
1 MIN READ

Norwegian Oil Fund Invests 1.4 Billion Euro in Offshore Wind Projects

Sweden's Wage Talks Reach Critical
1 MIN READ

Sweden's Wage Talks Reach Critical Stage as Deadline Looms

Sweden Leads Nordic Region in
1 MIN READ

Sweden Leads Nordic Region in Money Laundering, Report Finds

Swiss Varo Energy to Acquire
1 MIN READ

Swiss Varo Energy to Acquire Swedish Fuel Company Preem

German Inflation Drop Signals Potential
2 MIN READ

German Inflation Drop Signals Potential ECB Rate Cut in April

Half of Retrained Workers Shift
1 MIN READ

Half of Retrained Workers Shift to New Industries, CSN Reports

EQT-Backed Omega II Bids 54.9
1 MIN READ

EQT-Backed Omega II Bids 54.9 Billion Kronor for Fortnox

Food Prices Continue to Climb,
3 MIN READ

Food Prices Continue to Climb, but Major Increases May Be Over

Stockholm Stock Exchange Drops as
2 MIN READ

Stockholm Stock Exchange Drops as Trump's Tariff Plans Rattle Markets