At a press conference at lunchtime today, the government and the Sweden Democrats are presenting their proposal for how the state should share the risk for new nuclear power. Without state support, no new reactors will be built, the nuclear power companies have clearly signaled.
The proposal that the government sent out for review is based on the state providing favorable loans – around 300 billion for four to five reactors – and the nuclear power companies being guaranteed a certain price for 40 years. To finance the price guarantee, a tax for all electricity customers is proposed.
Not so many figures
But the proposal will not contain as many figures as some may have hoped, according to information to TT. It outlines the framework for how the risk-sharing model should look – exact figures and levels will be negotiated later in agreements with the companies interested in building.
Criticism of the investigation's proposal is severe. Some worry that taxpayers will bear the risk and that the calculations are overly optimistic. A long line of reviewing authorities – including fundamentally positive Swedish Enterprise – fear that the state's large investment in nuclear power may push aside other power sources, such as wind power. Those investments are needed in the short term, since it takes time to build new nuclear power.
The Energy Markets Inspectorate rejects the entire proposal, as it considers the basis to be too poor. Others criticize that no alternatives have been investigated, but that nuclear power has been the answer from the beginning.
Dismisses criticism
Energy Minister Ebba Busch (KD) has dismissed the criticism as "misleading and an opinion", despite it coming from energy researchers and the state's own expert authorities. Finance Minister Niklas Wykman (M) has said that the government can consider modifying certain parts of the proposal, but doing a broader analysis does not have time for.
The government's goal is to have two large-scale reactors in place by 2035.
Some of the investigation's proposals:
The program covers four to five large-scale reactors, which together can produce 4,000–6,000 megawatts.
The cost is estimated at 400 billion kronor in today's price level – the state will provide 300 billion in loan capital and the owners for 100 billion in equity capital.
A price guarantee agreement guarantees the nuclear power companies at least 80 öre/kWh in payment from the state for 40 years.
A risk- and profit-sharing mechanism that is activated as needed.
