Swedish government announces plan for new nuclear power plants amid energy stability concerns

The Swedish government has decided to build new nuclear power plants, arguing that this is the only way to ensure stability in the energy system moving forward. However, not all experts share this confidence. Finance Minister Elisabeth Svantesson stated, “The wind doesn’t always blow, and the sun doesn’t always shine. Storing electricity to create stability isn’t a fully developed technology, as far as I understand, so we need nuclear power.”

The state plans to borrow between 300 to 450 billion Swedish kronor to finance the construction of four new nuclear reactors. This would significantly increase national debt from about 15% to 23% of GDP.

Despite these massive investment plans, the government has not investigated whether there are cheaper and better alternatives to nuclear power. Some researchers argue that such alternatives do exist. When asked if other systems could provide stability in the energy system more effectively or affordably than nuclear power, Svantesson responded, “No, one doesn’t need to investigate everything one wants to know more about. By listening to our experts at the department, we see this as the best way forward for Sweden.”

Critics, like Markus Wråke, CEO of the research institute Energiforsk, disagree. He maintains that research offers limited support for the notion that it is physically impossible to build a system without new nuclear power in Sweden. Wråke acknowledges the benefits of nuclear energy but cites studies suggesting that a combination of wind and solar power, alongside battery storage and other technologies, could be both feasible and more economical than nuclear energy. He warns against a mindset that prematurely settles on nuclear power without adequately considering alternatives.