However, Energy and Industry Minister Ebba Busch (KD) emphasizes that the investigation is still just what the name says, an investigation, but that it is good that it is now on the table.
– We have many investigations underway that will come up with many proposals. I will take them in and the government as a whole will take them all in and then we will come back with what will be the government’s proposal.
According to Mats Dillén’s investigation, the expansion of nuclear power is estimated to cost close to SEK 400 billion and the program covers 4,000 to 6,000 megawatts, which corresponds to four to five large-scale reactors.
The financing is proposed to contain three components, the first of which is a government loan for 75 percent of the cost, 300 billion, while 25 percent is to be paid for by equity, 100 billion. The second is a price hedging agreement that extends 40 years for the power companies where the redemption price is 80 öre per kilowatt hour. It must be financed through a tax that is proportional to electricity consumption.
The third component is a risk and profit sharing mechanism to be activated when necessary. And it is based on the outcome of a market valuation of the project company two years after the routine start of operations.
Raised criticism
Above all, the second point in the investigation has attracted criticism from several quarters. The Green Party’s spokesperson Daniel Helldén says that “this will be a sinkhole for taxpayers’ money”. The Social Democrats are also skeptical of the investigation’s second point that the power companies must guarantee a minimum price for the electricity produced.
Willing to compromise
Power companies that could be interested in building new nuclear power have said they want to see political agreement to guarantee a long-term investment. And Ebba Busch says that the government is open to compromise with other parties.
– Of course, you have to be able to enter into a conversation where you can give and take, and do what is best for Sweden, not for different government foundations.