SWEDEN’S NUCLEAR PIVOT | POLICY & FINANCE
nuclear provided up to 75% of electricity. It was a warning that we need firm capacity that can always deliver in challenging weather conditions. Then, there was the election in the autumn of
2018, when nuclear energy became a major point of discussion. This was followed by the Intergovernmental Panel on Climate Change report on 1.5°C pathways, in which the role of nuclear was highlighted. This sparked the debate in Sweden on the relationship between nuclear power and our climate goals. In 2021, the COVID-19 pandemic and the energy crisis made it clear that, since we closed half of Sweden’s nuclear power plants, we have exposed ourselves to vulnerability in the functionality of the system. It is more difficult to transport electricity if we don’t have firm capacity at both ends of the lines. This also means volatile electricity prices – both temporally and geographically. But if we had hydropower in the north and nuclear power in the south, electricity transfer would be more resilient across the country and the price differences smaller. Also, in relation to the war in Ukraine, energy security
became an even more important issue. Swedish consumers noticed with their pockets that small disturbances to the electricity system may give system- wide price effects and may feed inflation. All these aspects – weather conditions, price
variations, climate goals, system challenges and energy security – pointed to nuclear power as a necessity. It simultaneously addresses society-wide issues, and a large part of the public have understood this now. That is why there was a policy change after the 2022 election. It was the first time in over 40 years that we had a fully pro-nuclear government, and that changed everything.
NEi: What role do you see next-generation nuclear technologies playing in Sweden’s future energy system? Berglöf: Conventional SMRs, like light-water SMRs, are a proven technology for experienced countries like Sweden, the UK, Canada and others, so I’m hopeful that it is possible to get licences within a decent timeframe. Of course, there is also a need to develop supply chains, which may cause delays and other challenges. But if everything goes according to plan, conventional SMRs could be online in
Sweden before the middle of the next decade. However, SMRs are a very wide field. The regulations we have are not tailor-made for specific concepts, so there will always be hurdles with new designs. When it comes to more advanced nuclear
technologies, the providers of these technologies have more to prove before we can really see how fast things could move. Lead-cooled reactors, gas-cooled reactors or molten salt reactors are further away from commercialisation. But the Swedish nuclear programme is quite big, so I think there is room for advanced technologies too. New types of reactors might be suitable for applications that conventional technologies are not – for example, high- temperature process heat and district heating. In the end, the application of the technology will determine whether they get built and the speed at which it can happen.
NEi: How is the Swedish government working to further build trust and confidence in new nuclear? Berglöf: It is important for the government to show that they deliver. The Swedish programme is a bit different from some other countries in that the government doesn’t own the projects. The government sets the conditions, but the companies, or the market, decide whether to build. But the government can still show that they can deliver
by providing the regulatory framework and the financing model to demonstrate that they are serious about the development and potential. This is already happening in Sweden, with the Riksdag (Parliament) last May approving the government’s proposal to provide state aid for companies looking to build new nuclear reactors. Gaining public support is mostly up to the applicant. They need to have a good dialogue with the municipality and community concerned, because ultimately you need their support to get a government permit for the facility. So, it is really the applicant’s responsibility to gain acceptance at the local level. On the national level, it is politics and policy.
NEi: The financing model that you mentioned has come into effect in August 2025. How has it facilitated the Swedish nuclear industry since? Berglöf: First, it has opened the opportunity for state-
www.neimagazine.com | May 2026 | 31
During the hot and low wind summer of 2018 nuclear and plants like Ringhals provided up to 75% of Sweden’s electricity. Source: Vattenfall
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