Low prices for electricity and high cost for producing nuclear electricity makes Vattenfall is now planning to put down Ringhals 1 and 2 during the period 2018-2020. According to earlier plans, the two reactors extinguished around by 2025.
– If we had not had the tax on nuclear power, we had not made this decision, said Vattenfall CEO Magnus Hall when he presented the results for the first quarter on Tuesday .
But Prime Minister Stephen Löfven does not believe that the government’s decision altitude nuclear power tax had any significance.
– This is the low price of electricity that you specify as the big reason. It also requires considerable investment in these reactors, and given their life, so well that a large part of the explanation, says Stefan Löfven according to TT.
Also Energy Ibrahim Baylan denies that the Government’s proposals for a tax increase would have a direct link to the previously laid demise.
Vattenfall owns 70 per cent of the two reactors, the remaining 30 percent is owned by Eon who must say yes before we can proceed with closure.
The expected electricity price for the 2018 stage directly with a penny when Vattenfall announced that it would close two reactors prematurely. The expected average price rose from 27 to 28 cents per kilowatt hour, according to TT.
The Centre Party is in favor of the plans to close the Ringhals 1 and 2 outs. Party leader Annie Lööf is on the same line as Ibrahim Baylan, it depends on market forces and not policy decisions.
Liberal Party leader Jan Björklund regrets the Government’s decision on the height of power tax. He believes that it jeopardizes the December agreement.
– The government plays gambler December agreement, says Jan Björklund.
In Swedish Enterprise There is no doubt that the planned the tax increase has affected Vattenfall’s decision to close the reactors ahead of schedule.
– It is clear that what is happening now is a politically driven economic decommissioning of nuclear power, which actually said more or less straight out in the spring budget, writes Maria Suner Fleming, head of climate and energy issues at the Confederation of Swedish Enterprise.
Waterfalls are compressed and will now reduce its staff by the equivalent of 1 000 posts. Since 2010, Vattenfall has slashed 2500 services, and today the Group has some 30 000 employees.
CEO Magnus Hall does not rule out further cuts in the future.
– If the electricity market continues to be so This pressured, we must reduce our costs in the future and it will affect our employees, says Magnus Hall.
While Waterfall is aiming to close down reactors are working at full speed to sell the carbon-based operations in Germany.
One goal is to become less dependent on the tight electricity market.
– the future we make money on things that are less linked to electricity prices, to such as district heating. Wind power is not at all based on the common market without the support systems and special bargains. Investing in wind energy is very profitable, says Magnus Hall.
Do not do that you become more dependent on political decisions?
– Yes absolutely, it is more political risk and less market risk in the business judgments that we have to do in the future, says Magnus Hall.
Behind the worse earnings in the first quarter is that Vattenfall protection from falling prices , in the form of forward contracts, expiring gradually. It allows low electricity prices will increasingly impact on Vattenfall’s earnings.
The government is now proposing that the so-called power reserves shall be extended by five years to 2025. The Swedish power network currently has a mandate to ensure that there is a power reserve so that extra electricity can be produced if necessary.
About Ringhals 1 and 2 closed prematurely reserve will be needed for a longer period, according to Energy Minister Ibrahim Baylan.
Vattenfall’s net sales decreased slightly and stayed at SEK 45.4 billion during the first quarter, against 45.9 billion in the corresponding period in 2014.
The operating profit, with temporary results disturbing factors not counting, was 7.7 billion crowns, against 9.1 billion a year earlier.
Electricity generation decreased and was 46.4 TWh against 50.1 TWh a year earlier.
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