Vattenfall announces closing of two nuclear reactors

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Vattenfall announces closing of two nuclear reactors

Vattenfall has decided to close two nuclear reactors, Ringhals 1 and 2, of the four-reactor Swedish nuclear power plant.

The reason to change the direction of the planned operational lifetimes for Ringhals 1 and 2 is declining profitability and increased costs.

The new direction means that Ringhals 1 and 2 may be closed down between the years 2018 and 2020 instead of, as previously announced, around 2025. The closure decision will be made by the Ringhals Board of Directors and requires unanimity between the owners, Vattenfall (70%) and E.ON (30%).Ringhals is a Swedishnuclear power plant with 4 reactors, one boiling water reactor (R1) and three pressurized water reactors (R2, R3 and R4). It is situated on the Värö Peninsula in Varberg Municipality approximately 60 km south of Gothenburg. With a total power rating of 3560 MW, it is the largest power plant in Sweden and generates 24 TWh of electricity a year, the equivalent of 20% of the electrical power usage of Sweden.Torbjörn Wahlborg, Head of Business Area Generation, Vattenfall, commented:
“Unfortunately, we see market conditions with continued low electricity prices in the coming years. At the same time, we are facing increasing production costs.”
As to Vattenfall's five other nuclear reactors Ringhals 3 and 4, and Forsmark 1, 2 and 3, the existing plans for at least 60 years of operational lifetime, until the beginning of 2040s, remains.Torbjörn Wahlborg added:
Vattenfall’s decision is business driven. It is of course regrettable to close down well-functioning production units but sometimes this is inevitable.”

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