Busch: Lower Electricity Bills This Winter

Minister for Energy Ebba Busch (CD) says that the forecast indicates lower electricity prices in winter – despite the new model for electricity transmission. It's very positive, she says.

» Published: October 17 2024

Busch: Lower Electricity Bills This Winter
Photo: Jonas Ekströmer/TT

Share this article

The new model – so-called flow-based capacity calculation – is intended to make electricity transmission smarter. It is scheduled to be introduced in the Nordic countries on October 29.

However, the model, which is intended to make electricity markets within the EU more harmonized, has been criticized by experts, producers, and consumers alike.

Svenska kraftnät's own test run has shown that Sweden as a country will come out as a loser with higher electricity prices with the new model.

Cannot Ignore

Ebba Busch, Minister for Energy and Industry, understands people's concerns about getting a high electricity bill in winter, but wants to calm them down.

It is very positive that the latest forecast indicates that the electricity bill will be lower in winter, compared to earlier.

For all electricity areas?

Yes. This is an EU law that was decided upon during the previous red-green government. And we cannot ignore implementing it, it will happen simultaneously with all Nordic countries.

The new model corresponds to 40-50 billion kronor in investments in more electricity grid, according to Busch.

It is also important for households.

Quarrel in Brussels

But could they have waited until spring, now during winter, electricity prices may go up?

This is also during winter when we have the greatest need to transfer and balance the system. It is the authority's assessment that it needs to happen now, it needs to happen simultaneously with the other Nordic countries.

Svenska kraftnät will receive a new assignment to evaluate the effects, and if the electricity transmission model does not turn out well, Ebba Busch will quarrel in Brussels, she says.

Then we will certainly make a big fuss within the EU and push for another model in such cases, she says.

For we stand on the side of households, not on the side of EU legislation.

The Social Democrats, on the other hand, think that the government should pause the new model until it is fully evaluated.

One should pause to make a broader analysis than the one that has been done. For Sweden's part, this does not look good, says Fredrik Olovsson, energy policy spokesperson for the S, and worries about higher electricity prices.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Nvidia Stock Drops 2.7% Amid New York Market Decline
1 MIN READ

Nvidia Stock Drops 2.7% Amid New York Market Decline

Trump Criticizes EU's $33.9 Billion Fine on Google, Threatens Trade Probe
2 MIN READ

Trump Criticizes EU's $33.9 Billion Fine on Google, Threatens Trade Probe

US Job Market Slows with Only 22,000 New Jobs in August
2 MIN READ

US Job Market Slows with Only 22,000 New Jobs in August

Tesla Board Proposes New Bonus Plan for Elon Musk
1 MIN READ

Tesla Board Proposes New Bonus Plan for Elon Musk

13 Suspected of Insider Trading After Dawn Raid
1 MIN READ

13 Suspected of Insider Trading After Dawn Raid

18 Charged in Major Insider Trading Case in Sweden and Norway
1 MIN READ

18 Charged in Major Insider Trading Case in Sweden and Norway

Skandiabanken Offers Lowest Mortgage Rates in August
1 MIN READ

Skandiabanken Offers Lowest Mortgage Rates in August

Stockholm Stock Market Rises for Third Consecutive Day
1 MIN READ

Stockholm Stock Market Rises for Third Consecutive Day

Danish Energy Giant Ørsted Lowers Profit Expectations for This Year
1 MIN READ

Danish Energy Giant Ørsted Lowers Profit Expectations for This Year

Foreign Ownership Boosts Swedish Economy with Productivity Growth
1 MIN READ

Foreign Ownership Boosts Swedish Economy with Productivity Growth

Calm Housing Market Spurs Speculator Interest
2 MIN READ

Calm Housing Market Spurs Speculator Interest

Asian Stock Markets Rise Amid US-Japan Tariff Agreement
1 MIN READ

Asian Stock Markets Rise Amid US-Japan Tariff Agreement

USA and Japan Reach New Trade Agreement on 15% Tariffs
1 MIN READ

USA and Japan Reach New Trade Agreement on 15% Tariffs

Activity Toys Pose Serious Injury Risks for Children in EU Survey
1 MIN READ

Activity Toys Pose Serious Injury Risks for Children in EU Survey

Hexagon Sells Software Business for 30 Billion Kronor
1 MIN READ

Hexagon Sells Software Business for 30 Billion Kronor

US Stock Market Sees Broad Gains Amid Labor Market Weakness
1 MIN READ

US Stock Market Sees Broad Gains Amid Labor Market Weakness

Ørsted Sues Trump Administration Over Halted US Wind Project
1 MIN READ

Ørsted Sues Trump Administration Over Halted US Wind Project

US Private Sector Adds 54,000 Jobs in August, Below Expectations
1 MIN READ

US Private Sector Adds 54,000 Jobs in August, Below Expectations

Goldman Sachs: Fed Uncertainty Could Propel Gold Prices
1 MIN READ

Goldman Sachs: Fed Uncertainty Could Propel Gold Prices

Food Chains in Sweden Promise Price Cuts with VAT Reduction
3 MIN READ

Food Chains in Sweden Promise Price Cuts with VAT Reduction