Today, Wednesday, the Swedish government announced its desire to compensate consumers and companies with the significant increase in electricity prices.
It has allocated an amount of about sixty billion kronor (5.7 billion euros) for this.
Prime Minister Magdalena Andersen said at a press conference that at least thirty billion crowns will be allocated to compensate household consumption, and it is expected to be distributed “this winter”.
The price of electricity consumption in southern Sweden reached a record level of 5.69 kroner per kilowatt-hour.
Gas prices skyrocketed at a time when wind shortages affected northern Europe’s wind power production.
Regarding the sources of compensation, the Prime Minister explained that the general operator of the transport and electricity networks, “Svenska Kravtnat”, collected a financial surplus despite the large investments he is making in the network.
She considered that this surplus should be returned to the consumer and that “the higher the price of electricity, the more important the compensation.”
The government did not clarify the form of the compensation or when it will start to apply it, but it said that the measures could include reducing electricity prices or providing direct assistance to homes and businesses.
The government has commissioned operator Svenska Kraftnat to submit a working proposal by November 15.
Sweden produces half of its electricity consumption from water, as well as reliance on atomic and wind energy.
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