Sweden pays 4.1bn kronor for nuclear reactor closure

The Swedish government will pay state-owned energy group Vattenfall 4.1 billion kronor (500 million dollars, 426 million euros) in compensation for the closure of a nuclear reactor earlier this year, Vattenfall said on Thursday.

Sweden shut its Barsebäck 2 reactor on 1st June, the second reactor to be taken out of service in the country since 1999 as part of a plan to phase out nuclear power over the next 30 or so years.

Under an agreement reached between the state, Vattenfall, and the German E.ON energy group, the state will pay Vattenfall 4.1 billion kronor in cash over the next four years in compensation for the closure.

It will also pay an additional 1.5 billion kronor to E.ON – which recently took over Sydkraft, the previous owner of the reactor – to cover costs linked to the shutdown and maintenance of the site, Vattenfall said.

Nuclear power accounts for nearly half of Sweden’s energy supply.