Electricity prices are rising - help is far away

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Electricity prices are rising - help is far away
Photo: Janerik Henriksson/TT

In many places, electricity prices are at their highest in two years. Many people may dream of government electricity subsidies. But forget it; those levels will not be reached, according to analysts. The system will not be changed, according to the Prime Minister.

On Tuesday, the electricity price will reach its highest level in just over two years across the country, at just over 2 kronor per kWh. This applies primarily to the entire Norrland region, where the price increase has been particularly large.

Locally, families have pointed in the media to electricity bills of over 10,000 kronor in January, and wondered about the reasonableness of that.

"I really feel sorry for those who have very high prices right now," says Prime Minister Ulf Kristersson (M).

Won't reach that high

So far in February, electricity has been even more expensive due to the cold. The monthly average is currently around SEK 1.25 per kWh. The government's promised support will kick in if the price exceeds SEK 1.50 on average over a month.

Is there a risk that we will end up above SEK 1.50 over the entire month?

"No, we will most likely not reach SEK 1.50 for February as a whole. If no nuclear power plant breaks down, it looks like today's prices will be the highest of the month," writes electricity analyst Johan Sigvardsson at the electricity company Bixia in an email.

On the electricity exchange, electricity is traded at around 1 krona per kWh for the next two weeks, which would make the month of February as a whole 10 öre cheaper than the average so far.

"SEK 1.15-1.20 per kWh in all Swedish electricity areas is my best guess right now," says Johan Sigvardsson.

So there will likely be no electricity support from the government. That was also something the experts quickly dismissed last fall, when the news came, as a promise that would never cost anything.

Will not change

According to the government, the support is still ready to be launched quickly if needed.

"It is as prepared as it can be," says Energy Minister Ebba Busch (KD).

But changing it in any way is not an option, according to Ulf Kristersson.

"No, we don't have to do that. We are lower in electricity prices than we were in 2022, when they were staggeringly high," says the Prime Minister.

The Center Party's climate and energy policy spokesperson Rickard Nordin calls the handling "remarkable" in a written statement.

"Just complaining won't lower electricity bills. The Center Party wants the electricity tax reduced as it promised before the election, to stop the increased electricity network fees and to urgently expand renewable energy production," he says.

The Swedish Social Insurance Agency writes to TT that it has been instructed by the government to prepare any payments.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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