The current plans for new nuclear power in Sweden are too small to cover the costs of all the nuclear waste that will arise from the new planned nuclear reactors. Vattenfall is not satisfied with the distribution.
The state-owned energy giant is in negotiations with the government about financing the project with 3–5 new, smaller reactors on the Värö Peninsula, where Ringhals is located today.
"We submitted an application before Christmas and now the discussion and negotiation with the state is ongoing," says Vattenfall's CEO Anna Borg.
Just their part
"For us, it is important that the terms we receive in that negotiation are good enough for us to be able to invest," she continues.
She points out that Vattenfall should only bear its share of the costs for the final repository, not the share of any other actors.
In doing so, she indirectly says that the plans for new nuclear power are too small at present.
Is the program too small now to cover the costs?
"It is clear that there are economies of scale if several nuclear power projects are built. But we are focusing on our project," says Borg.
Do we need more companies to come in and build to share the costs of the waste?
Profits up significantly
"I don't really have any insight into what other applications may or may not be on the way. Because in that case, they will come from other companies," she says.
"But what is crucial for Videberg Kraft (the company that Vattenfall, industry and the state will jointly own) is that we do not have to bear more than our pro rata share of the cost of the final repository," the Vattenfall manager continues.
The interview with Anna Borg is being conducted in connection with the release of the financial statements for 2025. Profit before tax strengthened significantly, to 8.7 billion for the fourth quarter, compared to 3 billion in the same period the year before. The balance sheet is strong, the dividend to the owner, the state, will be 8 billion.
"So I would say that we are well equipped to make profitable investments in the future."
This includes continued investments in offshore wind power, but not in Sweden. Electricity prices are too low and there are no government subsidies for connection to the national grid.
"It is simply more profitable to invest in offshore wind in other countries in Europe than in Sweden right now," says Borg.
