Released March 29, 2010 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Sweden could soon be the latest country to join a growing number of European nations breathing new life into their nuclear power industries.
The country's government has put forward two controversial bills that will effectively end the country's 30-year ban on new nuclear plants. The first bill will allow nuclear power companies to replace older reactors installed in the 1970s and 1980s with modern reactors, while the second will insist that nuclear power operators pay significantly more compensation in the event of accidents. Voting will take place in June and, if successful, applications for replacing the reactors can be submitted after August 1. However, only four votes are needed to defeat the coalition government's plans for a nuclear renaissance and three rebel politicians have already announced their intentions to break ranks and vote 'No.'
Sweden announced its intention to move back toward nuclear power last year, despite having become one of the leading anti-nuclear power nations following the Three Mile Island incident in 1979. For related news, see February 19, 2009, article - Five Swedish Companies Join Forces for Nuclear Power Projects. Today, the country has 10 operational reactors at three sites: Oskarshamn, Ringhals and Forsmark. These plants supply about 40% of the country's power. There are also two closed reactors at the Barseback site.
"We won't have more reactors than the 10 we have now. In 10 years' time, one or two [more] could be invested in," said Andreas Carlgren, Sweden's environment minister, speaking to Reuters. "We want to clarify that the nuclear industry has to take full responsibility for all costs regarding the worst cases if there was a real accident."
Not surprisingly, the government's plans have met with strong support from energy companies and other industrial sectors.
"We have no alternative," said Kenneth Eriksson, chairman of forestry, mining and steel industry group SKGS. "If we want to lower our emissions this is the only way. Wind power can only get us so far."
Mats Ladeborn, head of Vattenfall AB's (Stockholm) nuclear power business added: "It's a possibility for us to develop our nuclear business, so we think the bill is a positive step. We are implementing the biggest modernisation in the nuclear history of Sweden. We had planned for the power stations to be running before wintertime, [but] it took longer than expected and was more complex than we could foresee."
In related news, Global Nuclear Fuel Japan Company Limited (Yokosuka, Japan), through its GENUSA venture, has secured a $50 million contract to supply two units at OKG's Oskarshamn nuclear power station in Sweden with nuclear fuel and filter technology. Oskarshamn is powered by three boiling water reactor units, which together generate 2,600 MW of electricity. Global Nuclear Fuel is jointly owned by Hitachi Limited (NYSE:HIT) (Tokyo), General Electric Company (NYSE:GE) (Fairfield, Connecticut) and Toshiba Corporation (TYO:6502) (Tokyo, Japan).
Sweden relies on hydroelectric power for about 50% of its power needs. With many of the hydro facilities dating back to the 1940s, the three major energy operators in the country, Vattenfall, Finland's Fortum Oyj (HEL:FUM1V) (Espoo, Finland) and Germany's E.ON AG (OTC:EONGY) (Dusseldorf) recently pledged billions of euros to refurbish their hydroelectric plants. For related item, see February 11, 2010, article - Swedish Energy Companies to Refurbish Existing Hydroelectric Plants.
The country is also looking to increase its wind power resources. Earlier this month, the government revealed plans to erect 2,000 wind turbines in the next 10 years. The turbines will add 10 terawatt-hours a year to Sweden's renewable energy mix. The country has a goal of generating 50% of its power from renewables by 2020. For related news, see March 9, 2010, article - Sweden Plans to Build 2,000 Wind Turbines.
View Plant Profile - 1082803 1080876 1082835
Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
The country's government has put forward two controversial bills that will effectively end the country's 30-year ban on new nuclear plants. The first bill will allow nuclear power companies to replace older reactors installed in the 1970s and 1980s with modern reactors, while the second will insist that nuclear power operators pay significantly more compensation in the event of accidents. Voting will take place in June and, if successful, applications for replacing the reactors can be submitted after August 1. However, only four votes are needed to defeat the coalition government's plans for a nuclear renaissance and three rebel politicians have already announced their intentions to break ranks and vote 'No.'
Sweden announced its intention to move back toward nuclear power last year, despite having become one of the leading anti-nuclear power nations following the Three Mile Island incident in 1979. For related news, see February 19, 2009, article - Five Swedish Companies Join Forces for Nuclear Power Projects. Today, the country has 10 operational reactors at three sites: Oskarshamn, Ringhals and Forsmark. These plants supply about 40% of the country's power. There are also two closed reactors at the Barseback site.
"We won't have more reactors than the 10 we have now. In 10 years' time, one or two [more] could be invested in," said Andreas Carlgren, Sweden's environment minister, speaking to Reuters. "We want to clarify that the nuclear industry has to take full responsibility for all costs regarding the worst cases if there was a real accident."
Not surprisingly, the government's plans have met with strong support from energy companies and other industrial sectors.
"We have no alternative," said Kenneth Eriksson, chairman of forestry, mining and steel industry group SKGS. "If we want to lower our emissions this is the only way. Wind power can only get us so far."
Mats Ladeborn, head of Vattenfall AB's (Stockholm) nuclear power business added: "It's a possibility for us to develop our nuclear business, so we think the bill is a positive step. We are implementing the biggest modernisation in the nuclear history of Sweden. We had planned for the power stations to be running before wintertime, [but] it took longer than expected and was more complex than we could foresee."
In related news, Global Nuclear Fuel Japan Company Limited (Yokosuka, Japan), through its GENUSA venture, has secured a $50 million contract to supply two units at OKG's Oskarshamn nuclear power station in Sweden with nuclear fuel and filter technology. Oskarshamn is powered by three boiling water reactor units, which together generate 2,600 MW of electricity. Global Nuclear Fuel is jointly owned by Hitachi Limited (NYSE:HIT) (Tokyo), General Electric Company (NYSE:GE) (Fairfield, Connecticut) and Toshiba Corporation (TYO:6502) (Tokyo, Japan).
Sweden relies on hydroelectric power for about 50% of its power needs. With many of the hydro facilities dating back to the 1940s, the three major energy operators in the country, Vattenfall, Finland's Fortum Oyj (HEL:FUM1V) (Espoo, Finland) and Germany's E.ON AG (OTC:EONGY) (Dusseldorf) recently pledged billions of euros to refurbish their hydroelectric plants. For related item, see February 11, 2010, article - Swedish Energy Companies to Refurbish Existing Hydroelectric Plants.
The country is also looking to increase its wind power resources. Earlier this month, the government revealed plans to erect 2,000 wind turbines in the next 10 years. The turbines will add 10 terawatt-hours a year to Sweden's renewable energy mix. The country has a goal of generating 50% of its power from renewables by 2020. For related news, see March 9, 2010, article - Sweden Plans to Build 2,000 Wind Turbines.
View Plant Profile - 1082803 1080876 1082835
Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
