The Government has decided on nuclear waste fees for 2022–2023 in accordance with the Debt Office's proposal

Press release 31 January 2022

At the meeting on 27 January, the Government decided on nuclear waste fees to be paid by the reactor owners as well as the credit risk amounts and risk margins for which the reactor owners are to provide financial security in 2022 and 2023. The Government's decision follows the Swedish National Debt Office's proposal, which was submitted to the Government on 30 September 2021.

The Debt Office is responsible for ensuring that the nuclear power industry allocates sufficient financial resources to finance the decommissioning of nuclear power reactors and the final disposal of nuclear waste and spent nuclear fuel.

Nuclear waste fees

The nuclear waste fees are unchanged or lower than in 2021.

For those reactor owners with reactors in operation, the nuclear waste fees are imposed in relation to the nuclear power delivered. For a permit holder that no longer supplies nuclear energy, the fee is determined as an amount in Swedish kronor. Barsebäck does not currently pay any fee because the company's fund balance is larger than the remaining costs. The fees are deposited in the Nuclear Waste Fund and, together with previously funded assets, are to cover the expected remaining costs of the Swedish nuclear waste management programme as well as the costs of the government supervision and management of the funds.

Security 1 – Credit risk amounts

The credit risk amounts are decreased for all reactor owners compared with 2021. 

The purpose of the credit risk amount is to cover the credit risk for future fees that have not yet been paid. As fees are paid in and the Nuclear Waste Fund is built up towards full financing of the expected remaining costs, the credit risk amount will gradually decrease in size so that it will approach zero when electricity production ceases.

Security 2 – Risk margins

The risk margins are increased for all four reactor owners.

The increase is due, among other things, to a to the Financing Act, entailing a broader definition of the risks to be covered. The risk margin will now cover risks on both the liability and asset sides as opposed to risks only on the liability side as was previously the case.

If this security is redeemed, together with the credit risk amount, there is a high probability (90 percent) that the taxpayers will not have to contribute more money.

Background

The purpose of the fees and financial security is to ensure secure financing of nuclear waste management.

The Government's previous decision on 10 December 2020 only pertained to nuclear waste fees and credit risk amounts and risk margins for 2021, because of a delay due to the coronavirus pandemic in the Debt Office's calculations of the risk margins.

This Government decision on 27 January 2022 concerns fees and credit risk amounts and risk margins for the remaining three–year period, i.e. 2022 and 2023.

The table shows the nuclear waste fees set and the credit risk amounts and risk margins for 2022–2023
Reactor ownerNuclear waste feeCredit risk amountRisk margin (SEK million)
Forsmark Kraftgrupp AB 3.0 öre/kWh (3.0 öre/kWh) 5,485 (6,587) 15,834 (4,729)
OKG AB 5.6 öre/kWh (5.6 öre/kWh) 6,113 (6,949) 8,628 (3,448)
Ringhals AB 4.5 öre/kWh (4.7 öre/kWh) 5,846 (7,034) 14,219 (4,922)
Barsebäck Kraft AB SEK 0 million/year (SEK 0 million/year) 0 (0) 3,052 (2,019)
Note: Nuclear waste fees, credit risk amounts and risk margins for   the 2021 period are in parentheses.

Government's decision (in Swedish)

Read more about financing of nuclear waste management

Press secretary

Malin Hässelblad Wennström, pressansvarig

The Debt Office's operations shall be characterized by an openness to the public and the media. The right of access to official business is a cornerstone of Swedish democracy.

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