Swedish Atomic Tax Backed by EU Court as Output Costs Rise
- Nuclear levy costing power companies $548 million a year
- Atomic plant closures partly blamed on how tax calculated
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Europe’s highest court ruled that a Swedish nuclear energy tax the power industry says is sounding the death knell for some reactors complies with European Union laws.
The EU Court of Justice deemed Sweden’s levy on the available power of reactors rather than the actual amount of electricity they provide doesn’t violate the bloc’s energy tax directive. After Sweden increased the tax by 17 percent in August, it now costs the nuclear industry about 4.6 billion kronor ($548 million) a year, according to lobby group Swedenergy.