A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Thursday, March 28, 2024

Sweden abolishes nuclear tax

Sweden abolishes nuclear tax
Sweden abolishes nuclear tax

(Stockholm) – The Swedish parliament has agreed to abolish a tax on nuclear power as it recognizes nuclear’s role in helping it to eventually achieve a goal of 100% renewable generation.
Agneta Rising, Director General, World Nuclear Association, said, “It is excellent news that this tax will be removed, but it should never have been implemented in such a way as to distort the market and put at risk the operation of Sweden’s nuclear power plants, which provide affordable and reliable electricity and form a vital part of its low carbon generation mix.”
The nuclear tax had been repeatedly raised and had reached a level where it was equivalent to more than double the staff costs or more than a third of the operating costs of the plant. Swedish energy policy has seen a number of turnarounds on nuclear energy. A phase-out policy from 1979 was partially reformed by a new energy policy agreed in 1997 that would allow for extended operation of its reactors. A new policy agreed in 2010 went further, allowing for the construction of new nuclear power plants. However, policies promoted by the junior coalition Green Party had seen the nuclear tax increased substantially over the last eighteen months, World Nuclear Association said in a statement Friday.
Agneta Rising said, “Today’s announcement is a positive development. It is vital that there is now consistent policy to give operators the confidence to make the investments needed in their plant to allow for their long term continued operation. Other countries should follow Sweden’s example and ensure that their energy policies provide a level playing field that treats all forms of generation equally on their merits.”
(Courtesy WAM)

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.

RELATED ARTICLES

DIFC Celebrates 20th Anniversary

The Dubai International Financial Centre (DIFC) achieved record-breaking results...

Optimism Surrounds Philippine Food Exports

During the "Outbound Business Matching Mission" (OBMM) organized by...

UAE Leads Arab Economic Social Meeting

Abdullah bin Touq Al Marri, UAE Minister of Economy,...

UAE Export Boost with ADEX

ADEX, Mashreq, and ADCB partner with BGN for a...

Sharjah, Istanbul Exhibition Collaboration

Expo Centre Sharjah (ECS) and World Trade Centre Istanbul...

President Tokayev Visits Qatar for Diplomatic Talks

President Tokayev of Kazakhstan is set to visit Qatar...

Transforming Steel Production with Green Technology

A massive green steel plant near Boden, Sweden, aims...

DMCC Sees a Growth in Companies Formation in 2023

DMCC, the flagship free zone and commodities trade authority...

UAE Minister welcomes global firm

UAE Minister or Foreign Trade, Dr Thani Al Zeyoudi...