Sweden’s government on Wednesday vowed to compensate households and companies for soaring electricity costs in the wake of the Ukraine war, to the tune of up to 60 billion kronor ($5.76 billion), IgbereTV reports
At least half of the amount was to go to households who could expect to be compensated “this winter”, Prime Minister Magdalena Andersson told reporters.
“We have electricity and gas prices at a level we’ve never seen before”, she said.
On Wednesday, electricity on the Nordpool market hit a record 5.69 kronor per kilowatt hour in southern Sweden. It was expected to fall back slightly to 5.50 kronor on Thursday.
Swedish electricity prices have soared after Russia drastically curtailed gas supplies to Europe following its invasion of Ukraine
