Swedish parliament backs financing bill for new nuclear power

STOCKHOLM, May 21 (Reuters) - Sweden's parliament passed a bill on Wednesday to finance a new generation of nuclear reactors the government says are key to energy security and achieving net zero emissions by 2045.
The government plans four large-scale reactors - with installed capacity of around 5,000 MW - or the equivalent in small, modular reactors (SMRs). Half of that should be on-stream by 2035, according to the government.
"It's a question guaranteeing Swedish jobs, for dealing with climate change and it's a question of Sweden's security," Financial Markets Minster Niklas Wykman said during a debate in parliament on Wednesday.
Electricity demand is expected to double to around 300 terrawatt hours over the next two decades and the government says without nuclear power, key new industries like green steel, bio-fuels and large-scale hydrogen production will go elsewhere.
The government says it supports all fossil-free energy production, but that only nuclear can supply reliable, predictable power.
A white paper published in August last year, which proposed a similar model, said the state could need to lend nuclear developers between 300-600 billion crowns ($31-62 billion). Price guarantees would stay in place for 40 years.
Critics say nuclear power will be too expensive and too slow to build and would squeeze out cheaper wind and solar which are the only way to meet increased demand in the short term.
"It is an item of religious faith for this government to build nuclear power whatever the price," Birger Lahti of the opposition Left Party said.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Independent

an hour ago

• The Independent

Photos of top surfing dogs catching waves at Huntington Beach

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story. The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it. Your support makes all the difference.

Daily Record

an hour ago

• Daily Record

Fergus Ewing would have won SNP Inverness and Nairn selection contest 'by a landslide' claim party insiders

EXCLUSIVE: Party insiders said the veteran Nationalist would have beaten Emma Roddick in the internal vote. Fergus Ewing would have won the SNP candidate selection contest for Inverness and Nairn if he had stood, party figures have said. The veteran Nationalist announced on Friday that he would stand as an independent at next year's Holyrood election. ‌ Ewing will go up against current Highlands and Islands MSP Emma Roddick - who won the SNP contest. ‌ He has been the MSP for Inverness and Nairn since the Scottish Parliament returned in 1999 and was a minister for 14 years under Alex Salmond and Nicola Sturgeon. A Holyrood SNP source said: "If Fergus stood for the SNP in Inverness and Nairn he'd have won the selection contest by a landslide." A second insider said: "It's well known Emma put all her focus into her plans to challenge Fergus, while Fergus used his platform to give a voice to his constituents so fair play to him for giving folk in Inverness a proper option. "There was a lot of talk about whether Fergus should pass SNP vetting and perhaps there should have been more of a focus on the suitability of the current SNP candidate for Inverness.' A third source also said that Ewing would have won the selection contest. Ewing has been a vocal critic of the Scottish Government and was particularly damning about the coalition agreement with the Greens. ‌ He spoke out against the deposit return scheme, gender reform, marine protected areas and what he said was a lack of support for the oil and gas industry. He defied the party whip to back a vote of no confidence in then-Green minister Lorna Slater in 2023. This resulted in him being temporarily suspended from the SNP Holyrood group. Ewing had confirmed in March that he would not stand for the SNP - blaming the Scottish Government's failure to dual the A9 and A96 roads. ‌ On Friday he said he would stand against the SNP next year: "This has not been an easy decision. I have taken it because I love the people of Inverness and Nairn and the people of Scotland more than my party, which I have been in for more than half a century." He said the Nationalists had "deserted many of the people whose causes we used to champion". He added: "I believe the SNP has lost its way and that devolution itself – presently - is letting Scotland's people down. It doesn't need to be this way. ‌ " Holyrood is more fractious and tribal than ever before. "Too much power rests unchecked in the hands of party leaders, free to choose candidates who will slavishly support them, rather than stand up for the people who sent them to Holyrood. Choosing the pliant over the talented." ‌ Fergus Ewing is the son of SNP legend Winnie Ewing, whose win in the 1967 Hamilton by-election was a historic breakthrough for the party. His sister Annabelle Ewing is the SNP MSP for Cowdenbeath. Labour candidate for Inverness and Nairn Shaun Fraser said: " Fergus has rightfully earned respect for calling out the failures of SNP government and the policies and priorities which have done so much damage to the Highlands and Islands. ‌ "The breakdown in his relationship with his party highlights again that the SNP has no concern for the Highlands." Roddick said: "Local members backed me overwhelmingly in the selection contest for Inverness and Nairn. "I have always stood up for the Highlands and spoken out on issues that affect all of us who live here; I've never been shy about doing so. ‌ "I am SNP because I share our principles and belief in Scotland - that, as an independent country, we can best serve the people I represent and work hard for every day. "That's why I have the backing of the local party, and I look forward to putting our positive vision across during the campaign." The SNP was approached for comment.

Reuters

3 hours ago

• Reuters

Fact Check: Clip shows 2015 China explosions, not 2025 Iranian attacks on Israel

Footage of two nighttime explosions in the northeastern Chinese city of Tianjin in 2015 has been falsely described by social media users as showing an Iranian strike on the port of Haifa, Israel, during aerial battles between the two regional rivals. Israel began attacking Iran on June 13, saying it aimed to prevent the country from developing nuclear weapons. Iran has since retaliated with missile and drone strikes on Israel, and says its nuclear programme is peaceful. "BREAKING: The blast at Haifa Port is set to be remembered in history as one of Iran's most lethal and strategically devastating strikes," a June 14 X post, opens new tab with 1.6 million views captioned the 48-second clip, which shows a large fireball followed by two explosions. On the night of June 15 an Iranian missile barrage struck a residential street in Haifa, which the national emergency services said injured nine people. On June 16, Israel's Haifa-based Bazan Group said it closed its power station in Haifa Bay after it was significantly damaged by an Iranian attack on June 15, opens new tab, resulting in the death of three employees. Some Facebook posts, opens new tab falsely described the video as showing Tel Aviv, which has also been hit by Iranian strikes since June 13. However, the video was filmed in 2015 and shows explosions in Tianjin's industrial zone. The BBC posted the same video to YouTube, opens new tab and its website, opens new tab on August 14, 2015. Reuters reported that two enormous explosions on August 12, 2015, ripped through an industrial area in the port city where toxic gas and chemicals were stored, killing 173 people, opens new tab. Miscaptioned. The clip shows explosions in an industrial area of China's northeastern city of Tianjin in 2015. This article was produced by the Reuters Fact Check team. Read more about our fact-checking work.