Vattenfall: Unclear if 80 öre is enough

The potential nuclear power plant builders, Vattenfall and Fortum, are of course positive to the proposal that the state takes a large part of the risk. However, whether the price guarantee of 80 öre per kWh is sufficient is uncertain. It is too early to determine that level, says Desirée Comstedt at Vattenfall.

» Published: August 12 2024

Vattenfall: Unclear if 80 öre is enough
Photo: Pontus Lundahl/TT

TT gets a chat with both Vattenfall and Fortum (the latter in writing) about the consequences of the government investigator Mats Dillén's model for state financing.

Is this enough?

We have just taken part in this investigation in its entirety. It's a bit too early for me to answer whether it's enough. We need to get further analysis, says Desirée Comstedt, head of new nuclear power at Vattenfall.

80 öre against one krona

About the price guarantee level of 80 öre per kilowatt-hour (kWh) that nuclear power owners are guaranteed even if the market price is lower, she says:

It will be a consequence of the project costs. So we can think it's a bit too early to establish exact levels now.

She has previously said that Vattenfall's approximate cost of producing new nuclear power would be around one krona/kWh.

How would that fit with the guaranteed level of 80 öre?

Yes, as I said, we think it can be a bit too early to establish exact levels, says Comstedt.

Important to support wind power

She does not see that this proposal would worsen the competition for other electricity production, such as wind power.

But we also see ahead that the state has an important role in enabling the expansion of large-scale wind power, she says.

For if wind power is not expanded further, the electricity-intensive industry will move elsewhere, and then more nuclear power will not be needed.

So everything is connected and interdependent. But the important thing when you create a model is that you don't do it at the expense of another power source. And I don't see that this model does.

Fortum

Even the Finnish energy giant Fortum gives a thumbs up.

"The financing framework that Mats Dillén proposes is a welcome step forward to enable new nuclear power in Sweden. When the nuclear power owner, the state, and customers share both profits and risks, the financing cost decreases significantly, which is the largest cost in a nuclear power project", says Jesper Marklund, responsible for business development of new nuclear power at Fortum Sweden, in a written comment to TT.

Fortum is currently conducting a feasibility study of new nuclear power in both Sweden and Finland. Vattenfall has come a bit further in its plans.

Tags

TTT
By TT - Translated and adapted by Sweden Herald

More news

Porsche's Tunnel Plan Sparks Protests
2 MIN READ

Porsche's Tunnel Plan Sparks Protests in Salzburg

Dubai Chocolate Craze Drives Pistachio
1 MIN READ

Dubai Chocolate Craze Drives Pistachio Prices to New Heights

Volvo to Cut Up to
1 MIN READ

Volvo to Cut Up to 800 Jobs in US Facilities

Easter Eggs Evolve: More Companies
1 MIN READ

Easter Eggs Evolve: More Companies Join the Festive Trend

Economics Students' Math Skills Lagging,
1 MIN READ

Economics Students' Math Skills Lagging, Warn Swedish Educators

Survey Reveals Workplace Silence Affects
1 MIN READ

Survey Reveals Workplace Silence Affects One in Seven Employees

Trump's EU Talks: Agriculture, Security,
2 MIN READ

Trump's EU Talks: Agriculture, Security, and Currency on the Agenda

Volkswagen Considers Shifting Audi Production
1 MIN READ

Volkswagen Considers Shifting Audi Production to U.S. to Avoid Tariffs

Skistar Relocates Guests Due to
1 MIN READ

Skistar Relocates Guests Due to Snow Shortage in Swedish Mountains

Swedes to Spend Nearly a
3 MIN READ

Swedes to Spend Nearly a Billion Kronor on Easter Candy

Indonesia to Boost Oil and
1 MIN READ

Indonesia to Boost Oil and Gas Imports from USA to Ease Trade Tariffs

European Stocks Gain Popularity as
3 MIN READ

European Stocks Gain Popularity as Investors Shift Focus from US

Asian Markets Show Mixed Movements
1 MIN READ

Asian Markets Show Mixed Movements as Investors Eye US Tariff Talks

Netflix Surpasses Market Forecasts with
1 MIN READ

Netflix Surpasses Market Forecasts with Strong Quarterly Earnings

United Health's Sharp Decline Weighs
1 MIN READ

United Health's Sharp Decline Weighs on Wall Street Indices

Civil Servant Strike Averted as
2 MIN READ

Civil Servant Strike Averted as New Agreements Reached

IMF Predicts Global Economy to
1 MIN READ

IMF Predicts Global Economy to Sidestep Recession Despite Trade Strains

Judge Rules Google Maintains Illegal
1 MIN READ

Judge Rules Google Maintains Illegal Monopoly in Digital Advertising

Electricians Secure New Deal with
1 MIN READ

Electricians Secure New Deal with Pay Raises and Shorter Hours

US Economy Shows New Signs
2 MIN READ

US Economy Shows New Signs of Weakness with Housing and Manufacturing Slumps

Jonathan Anderson Named Dior Menswear
1 MIN READ

Jonathan Anderson Named Dior Menswear Creative Director

Eli Lilly Shares Surge After
1 MIN READ

Eli Lilly Shares Surge After Promising Weight Loss Pill Results

ECB Lowers Rates Again, More
3 MIN READ

ECB Lowers Rates Again, More Cuts Expected This Year

Study Reveals Long-Term Economic Strain
1 MIN READ

Study Reveals Long-Term Economic Strain for Russia in Ukraine Conflict

Trump Claims He Can Oust
2 MIN READ

Trump Claims He Can Oust Fed Chair Powell Despite Lacking Authority

Hermes Increases U.S. Prices to
1 MIN READ

Hermes Increases U.S. Prices to Offset Tariff Impact

Trump Administration Halts New York
1 MIN READ

Trump Administration Halts New York Offshore Wind Farm Construction

Genre image
1 MIN READ

Pernod Ricard Sales Dip Due to Cognac Challenges in China

TSMC Reports Strong Q1 Results
1 MIN READ

TSMC Reports Strong Q1 Results with 42% Sales Increase

ABB Gains Despite Downturn in
1 MIN READ

ABB Gains Despite Downturn in Stockholm Stock Exchange

ABB Boosts Profit, Plans Robotics
2 MIN READ

ABB Boosts Profit, Plans Robotics Division Spin-Off

Asian Markets Rise on Positive
1 MIN READ

Asian Markets Rise on Positive US-Japan Trade Talks

SBAB Predicts Decline in Mortgage
1 MIN READ

SBAB Predicts Decline in Mortgage Rates as Repo Rate Expected to Drop

Trump Reports 'Great Progress' in
2 MIN READ

Trump Reports 'Great Progress' in Trade Talks with Japan

Nvidia's Warning Sends Wall Street
1 MIN READ

Nvidia's Warning Sends Wall Street Indices Tumbling

EU Launches Safety Sweep to
1 MIN READ

EU Launches Safety Sweep to Tackle Dangerous Products Online