Sweden's government ready with electricity compensation for businesses

TT/The Local
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Sweden's government ready with electricity compensation for businesses
Businesses will be able to apply for electricity price compensation from Majy 30th. Photo: Janerik Henriksson/TT

Sweden's government has finalised its compensation package for businesses affected by high power prices, a full seven months after it promised the system would be in place.


At a meeting on Monday afternoon, the government formally decided on the government order under for the compensation, meaning businesses can start to apply to the Swedish Tax Agency to receive the money from May 30th. 

The decision came after the European Commission on Friday gave its approval to the system, a month after the government first sent in its application for the scheme to accepted under state aid rules. 

"I'm happy to be able to announce that the government has as quickly as possible decided on the government order," Sweden's business minister Ebba Busch said in a statement

It is seven months since the date that the government and the Sweden Democrats had promised that the electricity price compensation would be available to businesses. 


The commission said that the system had to be changed so that companies and organisations who already had a fixed price electricity contract in place before February 24th 2022 which remained in force until after February 24th 2023 would not be eligible for a payment. 


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