The government proposes in its spring budget amendment that the state take a 60 percent majority stake in nuclear company Videberg Kraft, planning new small reactors at Ringhals. The state will buy shares from Vattenfall for 1.8 billion kronor in 2027. The deal gives the state direct and indirect ownership of 80 percent.
Videberg Kraft is currently owned 80 percent by Vattenfall and 20 percent by industry consortium Industrikraft. Under the proposal, the state will buy shares from Vattenfall, resulting in the state holding 60 percent, with Vattenfall and Industrikraft at 20 percent each. Since Vattenfall is fully state-owned, this means the state will indirectly own 80 percent of the company.
Finance Minister Niklas Wykman (M) stated: “In this project, we can combine Vattenfall's experience in operating nuclear power plants with industry expertise, and by having the state enter as owner, we ensure it gains further stability. State ownership will also provide greater security for taxpayers' money.” The government also seeks authorization to inject up to 34.3 billion kronor during reactor construction.
Videberg Kraft plans three to five so-called SMR reactors at Ringhals. The government wants the state to take a major role in handling nuclear waste from new reactors, with fixed costs estimated at 122 billion kronor in 2026 prices, plus 61 billion for potential overruns from 2035 to 2159.
Sverigedemokrat Tobias Andersson, chair of the parliamentary industry committee, said: “New nuclear construction is a prerequisite for a future viable industry and constitutes a public interest, which motivates state ownership.” No costs are allocated this year under the proposal.
