Sweden’s Nuclear Revival: New Government Will Build More Power Plants to Keep up with Increasing Energy Demand

Sweden’s new government is expected to ask the country’s utility provider to build more nuclear reactors in a bid to boost electricity supply amid an expected influx of energy demand in the coming years.

After winning elections last month, the right-wing Christian Democrat party announced on Friday it will request state-owned utility company Vattenfall AB to construct new power stations in an effort to increase domestic electricity supply amid increasing concerns over Europe’s energy security. “New reactors will be built in Sweden,” said Ebba Busch, who’s party is expected to become the country’s government following a parliamentary vote come next week.

Sweden has been on the fence about nuclear power for a long time, but the energy source has gained more popularity recently as Europe faces a deepening energy crisis thanks to the conflict in Ukraine, all whilst an increasing number of governments look to reduce fossil fuel usage. A recent poll cited by Bloomberg shows about 60% of Swedes are in favour of building additional reactors that would serve as a more reliable source of power when the wind doesn’t blow and the sun doesn’t shine.

The Nordic nation is currently home to six power plants, which are nearly all operated by Vattenfall. If the Christian Democrat’s request comes to fruition, Sweden could soon see a number of small modular reactors (SMRs) as early as 2030. The utility company has been mulling reviving nuclear energy, announcing it will commission an 18-month analysis on the technology.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

5th Silver Mine Going Online | Arturo Préstamo – Santacruz Silver

Why Agnico Eagle Wants 22% of Vizsla Copper | Peter Mercer

They Found 54 Million Ounces of Silver, Now They Want More | Dale Brittliffe – Kootenay Silver

Recommended

Homeland Nickel Signs Binding Offtake With Westwin for 20,000 Tonnes of Concentrate a Year

Golden Cariboo’s First Quesnelle Resource Estimate Tallies 1.19 Million Gold Equivalent Ounces

Related News

Niger Revokes Mining Permit Of French Nuclear Firm Orano

Niger has revoked the operating license of French nuclear fuel producer Orano at the Imouraren...

Sunday, June 23, 2024, 04:10:00 PM

Why Is Philippines’ First Nuclear Power Plant Still Not Running After 36 Years?

Corruption, safety issues, and personality politics–how did a nuclear facility that cost billions to the...

Thursday, January 19, 2023, 04:00:00 PM

Google Considers Nuclear Power for AI Data Centers

Google (Nasdaq: GOOG) CEO Sundar Pichai has hinted at the possibility of using nuclear energy...

Sunday, October 6, 2024, 07:39:00 AM

Nuclear Power on the Moon: UK Funds Rolls-Royce’s Micro-Reactor Program

As the United States, Japan, and China race to send humans back to the moon,...

Thursday, March 23, 2023, 02:17:00 PM

Coal-Dependent Poland Inks Nuclear Power Plant Deal With South Korea

Seoul and Warsaw have inked outline agreements to develop nuclear power in Poland–in a move...

Tuesday, November 1, 2022, 12:51:00 PM