Vattenfall announces plans to invest in small nuclear reactors at Ringhals, aiming for a new Swedish nuclear power presence by the mid-2030s. While the government supports the initiative, opposition parties criticize the timeline and feasibility, highlighting the technology's developmental stage. The government has opened a support scheme for nuclear builders, sparking debate over potential costs to taxpayers.
Vattenfall's Bold Move: Small Nuclear Reactors at Ringhals
Vattenfall's Bold Move: Small Nuclear Reactors at Ringhals
Vattenfall has announced plans to invest in small nuclear reactors at Ringhals, the company revealed on Thursday. "It's happening now," writes Prime Minister Ulf Kristersson on X. However, the opposition criticizes the announcement. "It's a technology that isn't commercially available yet and is still under development," says Linus Lakso (MP).
State-owned Vattenfall has taken another step in its plans to have new Swedish nuclear power in place by the mid-2030s.
"A big step," writes Prime Minister Ulf Kristersson in a post on X:
"With new nuclear power, Sweden will have a more stable, competitive, and climate-friendly electricity supply. It's good for both Swedish families' and industries' economies."
"Finally," is the response from SD leader Jimmie Åkesson on the same platform, while L leader Simona Mohamsson calls it a "historic day," and KD's party leader Ebba Busch writes "a show of strength for Sweden."
At 2 PM, the government will hold a press conference.
Broken Timeline
Since the current government took office in 2022, there has been a strong push to fulfill the election promise of establishing new nuclear power in Sweden. A groundbreaking for new reactors was promised before the end of the mandate period, i.e., by next year.
However, that timeline has already been broken. Even though Vattenfall is preparing new reactors at the existing Ringhals nuclear power plant, no investment decision will be made before 2029 at the earliest, according to the state energy giant's management.
Vattenfall has made significant progress in preparations but has yet to decide on a supplier or which technology to use (until today), whether conventional large reactors or the new generation of smaller models, known as SMR (Small Modular Reactors). Vattenfall has steadily narrowed down the number of suppliers, moving closer to a decision on which method the company intends to pursue.
Environmental permits are also not yet finalized.
Store Opened
Recently, the government opened the "store" where nuclear builders can apply for state support—a model heavily criticized by both experts and the opposition for potentially being costly for taxpayers. It involves several hundred billion in state loans, plus 40-year guarantees of a minimum electricity price that nuclear producers can rely on to invest—price guarantees that electricity buyers will have to cover.
Vattenfall has so far stated that it plans to apply for state support in the fall.
Opposition Critical
The opposition is critical of the government's plans. The Green Party's Linus Lakso points out that SMR technology is still under development.
"And that means the government's plan to have new nuclear power in place by 2035 is completely unrealistic," he says.
The Green Party leader estimates that the reactors could be in place only after 2045.
"You can compare it to what the Tidö parties said before the election. They would start building nuclear power within a hundred days and without state subsidies. Now, three years later, they have landed on a technology choice," says Linus Lakso.
Fredrik Olovsson from the Social Democrats is also skeptical about the timeline.
"There is a long way to go to new nuclear power. It doesn't seem like anyone is going to Ringhals to break ground," he says.
The Social Democrats continue to call for a "broad energy agreement" for more power sources and increased production, especially to lower electricity prices in southern Sweden.
"I have also noted that the Tidö parties have rather wanted to see large reactors, but now Vattenfall seems to decide not to listen to that and instead proceed with small ones. It's good that decisions are made on what is technically and economically best and fits best at the site, and that it's not Tidö politicians who should decide that," says Fredrik Olovsson.