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Nuclear Power Costs Worry the Government's Watchdog

The Fiscal Policy Council, the government's watchdog in economic policy, wants to see a broad political agreement on what nuclear power is allowed to cost the state treasury and how the money is to be allocated.

» Updated: 08 September 2024, 07:39

» Published: 08 September 2024

Nuclear Power Costs Worry the Government's Watchdog
Photo: Christine Olsson/TT

It's about "enormous amounts" that cannot be shaken out by making exceptions in the state's economic framework, according to the council's chairman Lars Heikensten and vice chairman Annica Sundén, who write on DN Debatt.

But if politicians agree that nuclear power is necessary to achieve things like climate transition, it's reasonable that it's financed by the state borrowing for it, according to the council, and the national debt increases. Then, the economic framework must be adapted to it, and politicians must weigh the costs against other pressing needs that the state treasury should cover.

The model proposed by the government's investigator on how new nuclear power should be paid for involves the state lending 300 billion kronor to those who want to build nuclear power. But there should be preparedness for loans of up to twice that, 600 billion kronor, according to the investigator.

"Most important is that no new exceptions are made from the framework. In the annual assessment of public finances, a financing of nuclear power must under all circumstances be included", write Heikensten and Sundén, and continue:

"All public expenditures and commitments must be weighed against each other, including nuclear power. Otherwise, we soon have no fiscal policy framework."

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By TTThis article has been altered and translated by Sweden Herald

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