Sweden’s parliament has changed its national energy target from “100% fossil-free” to “100% renewable” as part of its plan to build new nuclear power plants and meet net zero emissions by 2045.
The country expects electricity demand to double to 300TwH by 2040.
“This creates the conditions for nuclear power. We need more electricity production, we need clean electricity and we need a stable energy system.”— Elisabeth Svantesson, Sweden Finance Minister
The announcement comes after Finland, Sweden’s neighbour, switched on the first new nuclear reactor to be opened in Europe in more than 15 years — Olkiluoto 3 — bringing the price of electricity in Finland down by 75%, from 245.98 euros per megawatt-hour in December to 60.55 euros per megawatt-hour in April.
Read our report on the coming of the second atomic age and what it means for uranium demand: