Fortum: Small-scale nuclear power needed in future electricity system

Energy company Fortum has stated that small modular reactors (SMRs) are needed in the future electricity system. SMR technology is currently being developed in several countries, offering advantages such as cost-effectiveness, flexibility, and enhanced safety compared to traditional large nuclear power plants.

Fortum is actively participating in SMR development, including mapping the prerequisites for SMRs in Estonia and collaborating with MIT to develop tools for economic and technical modeling. The company emphasizes that SMRs can provide the necessary regulated and flexible electricity production to support the large-scale deployment of renewable energy sources like wind power.

According to Fortum, electricity demand will increase significantly in the future to meet climate goals, requiring up to a 70 percent increase in current electricity production. SMRs could contribute large amounts of fossil-free electricity, which is necessary for sectors such as the hydrogen economy.

The company criticizes the slow pace of SMR development in Sweden due to political opposition, despite a more positive public opinion towards nuclear power. Fortum urges the Swedish government to push for a common EU licensing process for SMRs to reduce costs through series production.

Fortum notes that the issue of final disposal of nuclear waste has been resolved in Sweden and Finland, with minimal safety risks compared to, for example, the risks associated with climate change or heavy metal emissions.