Sweden to support households hit by high electricity prices

Electricity prices have surged in Sweden in recent months. Stock photo.
Electricity prices have surged in Sweden in recent months. Stock photo.
Image: 123RF/PHIVE 015

Sweden will compensate those households which have been worst hit by a surge in electricity prices, Finance Minister Mikael Damberg said on Wednesday, with the government setting aside 6 billion crowns ($664.45 million) for measures.

The government said it would cover three months from December 2021 with a maximum amount of 2,000 crowns per household per month.

The government said the money would reach around 1.8 million households.

"These are exceptional measures for an exceptional situation," Damberg told a news conference.

Electricity prices have surged in Sweden in recent months - particularly in the south of the country - though the increases have been less marked than in many other parts of Europe.

Sweden's electricity comes mainly from its own hydro-power, nuclear reactors and wind power installations and it does not rely on imports of natural gas.

However, prices are set on international markets, meaning Swedish consumers have also been affected. 


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