The Swedish government announced on Wednesday that it wanted to compensate consumers and businesses up to 60 billion crowns (5.7 billion euros) for the soaring electricity prices caused by the war in Ukraine.
A minimum of 30 billion crowns will be allocated to Swedish households who can expect to receive this compensation "
this winter
", Prime Minister Magdalena Andersson announced at a press conference.
On Wednesday, electricity in southern Sweden reached a record sum of 5.69 crowns per kilowatt hour on the Nord Pool markets.
A concrete proposal by November 15 from manager Svenska Krafnät
Electricity prices in Sweden have risen sharply after Russia drastically restricted gas supplies to Europe following Moscow's invasion of Ukraine.
Gas prices meanwhile soared at a time when wind power generation in northern Europe was affected by the lack of wind.
The public operator of the electricity transmission network Svenska Kraftnät therefore amassed so-called capacity costs, which left it with a surplus despite massive investments in its network, explained Magdalena Andersson.
For the Prime Minister, this surplus must return to the consumer: "
The more the price of electricity increases, the more the sum (returning to the consumer) will be important
", specified the Swedish Prime Minister.
The government has not yet specified in what form this compensation will be made or when it will be put in place.
He said, however, that these measures could include lower electricity prices as well as direct reimbursement to homes and businesses.
The government has instructed Svenska Kraftnät to make a concrete proposal by November 15.
Hydroelectricity accounts for half of the electricity generated in the country, which also depends on nuclear and wind power.
