Today, Videberg Kraft is owned by Vattenfall with 80 percent and the business consortium Industrikraft with 20 percent. This year and next, the government proposes in the spring amendment budget that the state inject money into the company and buy shares from Vattenfall, a deal that will cost the state 1.8 billion kronor in 2027. None of the cost will be borne this year, according to the proposal.
The purchases will give the state 60 percent ownership, while state-owned Vattenfall and the business consortium Industrikraft will each hold 20 percent.
This means that the state will directly and indirectly own 80 percent of Videberg Kraft.
Will give mandate
"In this project, we can combine Vattenfall's experience of operating nuclear power plants with the industry's expertise, and by having the state take over as owner, we are now ensuring that it is given greater status," says Minister of Financial Markets Niklas Wykman (M) in a press release, and he continues:
"State ownership also becomes a way to provide greater security for taxpayers' money."
The government is also requesting authorization to contribute a maximum of SEK 34.3 billion to Videberg Kraft during the construction of the reactors.
Sweden Democrat Tobias Andersson, chair of the Riksdag's Economic Affairs Committee, says:
"New construction of nuclear power is a prerequisite for future viable industry and constitutes a public interest, which is why state ownership is justified."
122 billion
The government also wants the state to take a major role and invest billions in a program for the nuclear waste generated by new reactors. Videberg Kraft has planned three to five so-called SMR reactors at Ringhals.
The fixed costs for a new nuclear waste program are estimated, according to the government, at SEK 122 billion in 2026 price levels, with an additional SEK 61 billion to cover possible price increases, for the years 2035–2159. The state will sign an agreement to assume some of the costs so that those who are first to build new nuclear power do not risk having to bear the entire cost.
