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For Vattenfall, nuclear power still has a future in Germany and Sweden

Brief

October 31, 2003

Given the growth in energy demand and the need to fight the greenhouse effect, Lars Josefsson, CEO of Swedish utility Vattenfall, indicated that Germany and Sweden should look again at the opportunity for using nuclear power in the future. Josefsson thinks Germany should build 40,000 MWe of new capacity in the 2010 to 2020 time frame to compensate for the phase-out of existing reactors and old thermal power plants.

It would take around 50 billion euros to build the new capacities. He also noted that 6.4 TWh will be generated in Sweden as a result of nominal capacity increases at the reactors, despite planned closures. The future of nuclear power will be critical to meeting CO2 emission reduction goals for Germany and Sweden, according to Josefsson.