Swedish electricity prices soar to new all-time high

Swedish electricity prices soar to new all-time high
Sweden has never before had electricity prices this high. Photo: Anders Wiklund/TT
Electricity prices are set to reach new record levels in southern Sweden on Tuesday.

Less wind power than normal, as well as the cost of gas and electricity being on an upward curve in Europe this winter, has had a knock-on effect on southern Sweden, reports news agency TT.

On Tuesday, the average daily spot price of electricity south of Mälardalen (the region around Stockholm) is set to hit 4.25 kronor ($0.46) per kilowatt hour.

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That’s far above the Monday price of more than three kronor, which was already a record.

During some hours on Tuesday, the price could even rise to more than six kronor, according to Nord Pool, the European power exchange for northern Europe.

In the two most northerly areas for electricity prices in Sweden, which benefit from proximity to the region’s hydroelectric power industry, the average daily price will be no more than 0.60 kronor.

What can you do on an individual level to lower your energy bills? Here’s The Local’s guide.

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