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

This Copper Mine Costs 1/6 to Restart | SSR Mining X Roxmore

Why Cambria Hit Pause on Its Massive Copper-Gold Spinout

Can Gold Rescue Washington From Its Debt Trap? | Andy Schectman – Miles Franklin

Recommended

Mercado Minerals Lengthens El Triunfo Vein by 190 Metres, Readies 1,500-Metre Zamora Drill Program

Blue Jay Gold Signs Ocean Partners Deal to Ship Steller Stockpiles Through 2027

Related News

SMR Factories Are Coming: Holtec To Build A £600-Million Factory In The UK

Holtec International, the US nuclear firm, is kicking off a competition on Friday to find...

Friday, March 8, 2024, 11:19:00 AM

Czech Republic Wants More Nuclear Power, Expands Tender To Up To Four New Blocks

The Czech Republic has announced plans to expand the construction of nuclear power units at...

Tuesday, February 6, 2024, 03:57:00 PM

BREAKING: German Officials Said To Have Manipulated Documents To Support Nuclear Power Phase Out

A bombshell report in Germany released this morning by Cicero, a German media outlet, has...

Thursday, April 25, 2024, 10:07:58 AM

Japan’s Utilities Warn New Nuclear Plants Needed to Meet 2050 Net Zero Goal

Japan’s electricity utilities have indicated that the country will need to build new nuclear power...

Wednesday, April 10, 2024, 08:23:09 AM

Japan Mulls Building Next-Gen Nuclear Power Plants

In a major policy shift following the 2011 Fukushima disaster, the Japanese government is looking...

Wednesday, August 24, 2022, 10:34:23 AM