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

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

Krait Critical Minerals Signs Option for Historical Nevada King Antimony Mine

Related News

Energy Secretary Calls For More Nuclear Reactors: “2 Down, 198 To Go”

U.S. Secretary of Energy Jennifer Granholm has called for the construction of “hundreds” of new...

Saturday, June 1, 2024, 09:14:00 AM

U.S. Races to Secure Nuclear Fuel as Russian Restrictions Take Hold

As the United States aims to triple its nuclear power capacity by 2050, concerns over...

Monday, December 2, 2024, 03:40:00 PM

Nuclear Revival on the Horizon? Quebec Energy Minister Supports Review of Gentilly-2 Reactor

Quebec’s Energy Minister, Pierre Fitzgibbon, has voiced his support for Hydro-Québec’s exploration into the potential...

Wednesday, August 16, 2023, 12:05:00 PM

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

Canada Signs $3-Billion Support For Nuclear… In Romania

Canada and Romania have inked a significant $3-billion export development deal in which two state-of-the-art...

Thursday, September 21, 2023, 01:12:08 PM