In a statement announcing the new policy in the Swedish Parliament, Finance Minister Elisabeth Svantesson warned that the Scandinavian nation needs "a stable energy system."

Svantesson asserted that wind and solar power are too "unstable" to meet the nation's energy requirements.

Instead, the Swedish Government is shifting back to nuclear power and has ditched its targets for a "100% renewable energy" supply.

The move is a major blow to unreliable and inefficient technology.