As electricity demand accelerates across Northern Europe, a new international study concludes that long-term operation (LTO) of existing nuclear plants could play a critical role in maintaining reliable, affordable, and low-carbon electricity supplies in Sweden and Finland. The study also highlights how experience from the United States and other countries may help Nordic decision-makers evaluate future investments in nuclear lifetime extension.
The report, Bridging the supply gap in the Nordic electricity system, was developed jointly by Energiforsk and EY Sweden and examines how countries including Belgium, Canada, France, and the United States have approached nuclear lifetime extension decisions. The study was based on interviews with utility executives, policymakers, regulators, and industry experts, including representatives from EPRI.
Rising Demand Creates a New Energy Challenge
According to the report, electricity demand in Sweden and Finland is expected to increase significantly over the coming decades as industries electrify operations and new electricity-intensive applications, including hydrogen production and data centers, expand throughout the region. The study estimates that Sweden will require an additional 117 terawatt-hours (TWh) of generation capacity by 2045, while Finland will require an additional 155 TWh. If existing nuclear reactors are not granted additional operating life, those generation gaps could increase to 167 TWh and 169 TWh, respectively.
Today, nuclear energy supplies approximately 50 TWh annually in Sweden and 33 TWh in Finland, representing 29% and 40% of each nation's electricity generation, respectively. The report notes that many reactors in both countries will reach the end of their currently planned operating lifetimes within the next 10 to 20 years, making future LTO decisions increasingly important.
Beyond energy production, the report highlights nuclear power's value as a dispatchable, high-availability resource that can support grid stability, strengthen energy security, and help reduce electricity price volatility.
Global Momentum for Nuclear Lifetime Extension
The study found that many countries view nuclear lifetime extension as a cost-effective way to preserve existing generating capacity while supporting climate and energy security objectives. Case studies from Belgium, Canada, France, and the United States identified several common factors supporting LTO investments, including predictable revenue structures, clear policy direction, and recognition of nuclear energy's contribution to reliable electricity supply.
The report also found that energy security considerations have become increasingly important following recent periods of energy market volatility. In several countries, policymakers have reassessed the role of existing nuclear assets as a means of strengthening long-term electricity reliability while supporting decarbonization goals.
Among the trends identified in the study:
Government involvement often helps support LTO investment decisions.
Energy security and climate objectives strengthen the case for continued operation.
Policy uncertainty can delay investment decisions.
Workforce and supply-chain benefits are increasingly recognized.
Growing electricity demand from data centers is emerging as a significant driver for long-term nuclear operation.
EPRI Expertise Featured in International Assessment
The report draws on EPRI's extensive expertise in long-term operation and aging management through interviews with Garry Young, Senior Technical Executive for LTO and Aging Management Strategy, and Monica Hurley, Senior Technical Leader for Power Uprates and LTO. Both were included among a select group of international industry experts interviewed for the study.
The U.S. experience featured prominently in the report's analysis. Citing comments from Garry Young, the report notes that approximately 95% of U.S. reactors have already received licenses allowing operation to 60 years, and that most are expected to pursue operation to 80 years or longer.
The study's findings align closely with decades of EPRI research supporting safe, reliable, and economic long-term operation of nuclear plants. Through research programs focused on aging management, materials degradation, equipment reliability, license renewal, subsequent license renewal, and operation beyond 60 years, EPRI has helped utilities worldwide evaluate pathways for extending plant life while maintaining high levels of safety and performance.
The report's emphasis on predictable policy frameworks, effective aging management, coordinated refurbishment programs, and long-term planning reflects many of the technical and strategic issues that have been central to EPRI's LTO research and industry collaboration efforts. While the Nordic report focused primarily on business and financing considerations, EPRI's ongoing work provides supporting technical foundations that enable utilities to evaluate operation to 60, 80, and potentially beyond 80 years. This contribution is particularly relevant as utilities around the world increasingly view existing nuclear assets as critical infrastructure for meeting future electricity demand. Several relevant EPRI deliverables are included at this article’s conclusion.
Implications for Sweden and Finland
One of the report's central conclusions is that Sweden and Finland face greater economic uncertainty than many countries that have recently moved forward with lifetime extension programs. Unlike Canada and many U.S. jurisdictions, the Nordic countries operate largely deregulated electricity markets and currently do not have dedicated mechanisms designed specifically to support nuclear lifetime extension investment.
Nevertheless, the report concludes that LTO offers a potentially cost-effective pathway to help bridge future supply gaps while supporting energy security, industrial competitiveness, and decarbonization objectives. The authors suggest that international experience provides valuable lessons for Nordic policymakers, regulators, utilities, and system operators as they evaluate the future role of existing nuclear plants.
As countries around the world seek reliable sources of low-carbon electricity to support electrification and economic growth, the report indicates that long-term operation of existing nuclear plants is increasingly being viewed as a strategic option. For Nordic decision-makers, the experiences documented in Belgium, Canada, France, and the United States provide a range of approaches that may help inform future LTO decisions. For EPRI and its members, the study reinforces the growing international importance of long-term operation as a key component of the global energy transition.
Source: Bridging the supply gap in the Nordic electricity system, jointly developed by Energiforsk and EY Sweden, June 2026. EPRI experts Garry Young and Monica Hurley participated in the study's interview program.
Related EPRI products:
Long Term Operations (LTO) Wiki, 3002032385
Key Business Case Considerations for Long-Term Operation of Nuclear Power Plants, 3002034069
Program on Technology Innovation: A Review of Power Procurement Mechanisms for Electric Companies and Corporate Buyers-Core Concepts, Contract Structures, and Trends, 3002033849
The Costs of Generating Electricity 2025, EPRI/NEA – OECD Publishing 2026
Microsoft Copilot was used to generate a draft of this article. AI-generated content was reviewed, edited, and fact-checked by an EPRI expert to ensure accuracy and quality.
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