in , , ,

SWEDEN plans to compensate electricity consumers on soaring bills

electrician-dies-on-power-transformer-after-making-costly-mistake
Electricity-Pole
Spread the love

Sweden’s authorities on Wednesday vowed to compensate households and companies for soaring electricity bills in the wake of the Ukraine war to as high as 60 billion kronor ($5.76 billion).

READ ALSO:   HEALTH ISSUES: NINE Common Daily Habits That causes Brain damage (A MUST READ) 

At the least half of of the quantity will go to households who could anticipate to be compensated “this wintry weather”, Minister Magdalena Andersson told newsmen.

“we’ve electricity and gas fees at a level we have 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 energy costs have soared after Russia significantly curtailed fuel materials to Europe following its invasion of Ukraine.

Gas fees have thereby soared, at a time while there is little wind energy being generated in northern Europe because of cutting-edge climate situations.

Svenska Kraftnat, the country-owned operator of the countrywide grid, has therefore been raking in soaring so-referred to as potential costs, which have left it with a surplus notwithstanding large investments in its grid, Andersson said.

READ ALSO:   ELECTRICITY: More Troubles as Fidelity Bank, AMCON Take Over five DISCOS (IBEDC, KEDC, three others)

That surplus should make its manner returned to consumers, Andersson stated, adding: “The higher the power fee goes, the higher the quantities we’re talking approximately”.

Hydropower money owed for about 1/2 of the strength generated in Sweden, which additionally relies on nuclear and wind strength.

It isn’t always yet acknowledged what shape the reimbursement might take nor while it might be added, but the government said measures could consist of lower energy costs in addition to direct refunds to households and companies.

The authorities has tasked Svenska Kraftnat with drawing up a concrete suggestion via November 15.

The Social Democratic government’s statement comes just 3 weeks in advance of legislative elections, with opinion polls setting the left and right blocs neck-and-neck.

READ ALSO:   POPULAR United States based Nigerian Dancer, Kora Obidi gets crazy at critics, issue curses (WATCH THE VIDEO)

Written by Adesoji OMOSEBI

BSc Agric Science

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Lagos Government Bans ‘OKADA’ in Four Local Government Areas and Six Local Council Development Areas

CBN Sets To Enable Nigerians Access “eNaira” Through USSD