Swedish state-owned utility Vattenfall AB said Thursday it will begin consultations with authorities and residents about the potential construction of new nuclear reactors at the Ringhals power plant on the southwest coast of Sweden .

The consultations are part of an investigation process that started after a 2009 government decision to allow old nuclear reactors to be replaced by new ones. Vattenfall submitted an application to build new reactors in 2012.

"Our assessment is that it may be appropriate to replace current nuclear power generation with new reactors," Torbjorn Wahlborg, head of Vattenfall's Nordic operations, said. "To keep that option open, extensive investigations need to be carried out now, although it will be more than a decade before we start shutting down reactors that are currently in operation."

Some 40% of Sweden 's electricity generation comes from 10 nuclear reactors built in the 1970's and 1980's. The Ringhals plant, which has four reactors, is 70% owned by Vattenfall and 30% owned by Germany 's E.ON SE (EOAN.XE). Vattenfall has said that it expects to decommission the two oldest Ringhals reactors in 2025 and 2026, respectively.

Vattenfall's consultations will involve authorities, local residents and other stakeholders.
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