SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Busch on Vattenfall's signals: Ominous

Vattenfall has warned that another wind power project, Kattegatt Syd, may need to be paused. A bad message, according to Energy and Enterprise Minister Ebba Busch (Christian Democrats).

» Updated: 23 October 2024, 14:29

» Published: 23 October 2024

Busch on Vattenfall's signals: Ominous
Photo: Jakob Åkersten Brodén/TT

It is clearly worrying that there are so many power companies, regardless of whether they are dealing with wind power, solar power or looking at nuclear power, that think it is difficult to get the calculations together because the prices are so volatile, she says.

In a situation where Sweden needs to increase production, but also increase electricity production in a way that enables more consumption, it is clear that it is ominous.

Varying prices

According to Busch, the problem is that electricity prices are so volatile.

You don't know if you should count on negative prices, then it's not possible to invest in new production, or four kronor per kilowatt-hour. It fluctuates so much that you don't know what to base the investment calculation on, and that's something we need to address, she says.

Busch also states that the volatile prices are largely due to Sweden having so much wind power in the system.

Vattenfall has already paused the wind power project Kriegers Flak off Trelleborg.

The power company warns that it is not possible to achieve a large expansion of offshore wind power as long as the state does not take part of the cost of connecting to the grid.

Busch says no

According to Busch, it is not a solution for the state to pay for the connection.

I think you should be honest that what they are asking for is for the Swedish people to pay more for offshore wind power, says the Energy Minister.

Busch also points out that it is not possible to use the so-called grid congestion fees to build out the grid in a way that benefits certain electricity consumers, such as large companies and certain wind farms. It would violate EU rules, according to the government.

Svenska kraftnät agrees with the minister. The authority has made a legal assessment of the issue and concluded that it would violate EU rules, according to Svenska kraftnät for TT.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Took a tough stance on crypto companies - resigns
1 MIN READ

Took a tough stance on crypto companies - resigns

Ingvar Carlsson on PG: "A very loyal friend"
2 MIN READ

Ingvar Carlsson on PG: "A very loyal friend"

No Wage Guarantee in American Process
1 MIN READ

No Wage Guarantee in American Process

He became "PG" to the entire Swedish people
3 MIN READ

He became "PG" to the entire Swedish people

PG Gyllenhammar has died: "meant a lot"
1 MIN READ

PG Gyllenhammar has died: "meant a lot"

Unstable US stock market ends on a plus
1 MIN READ

Unstable US stock market ends on a plus

Temu's owner shows its hand
1 MIN READ

Temu's owner shows its hand

Nvidia rises in pre-trading on Wall Street
1 MIN READ

Nvidia rises in pre-trading on Wall Street

Reconstruction in the USA to save Northvolt
3 MIN READ

Reconstruction in the USA to save Northvolt

Northvolt: Negotiations are still ongoing
3 MIN READ

Northvolt: Negotiations are still ongoing

Higher Compensation for Job Interviews in Another Location
1 MIN READ

Higher Compensation for Job Interviews in Another Location

Vehicle Giant Warns of Challenges in 2025
1 MIN READ

Vehicle Giant Warns of Challenges in 2025

Unchanged interest rate in Turkey
1 MIN READ

Unchanged interest rate in Turkey

Trump anxiety in the EU over US tariffs
3 MIN READ

Trump anxiety in the EU over US tariffs

Weak demand for scrapping premium
1 MIN READ

Weak demand for scrapping premium

E-fuel company takes in half a billion
1 MIN READ

E-fuel company takes in half a billion

New Report Boost for AI Giant Nvidia's Share
2 MIN READ

New Report Boost for AI Giant Nvidia's Share

Stockholm Stock Exchange Turned Upwards
1 MIN READ

Stockholm Stock Exchange Turned Upwards

Bitcoin closer to the dream limit
1 MIN READ

Bitcoin closer to the dream limit

Higher fee to stop burning of plastic
2 MIN READ

Higher fee to stop burning of plastic