January 24, 2020

...AND CHEAPER...:

Why electricity prices are so low in Sweden right now (The Local, 24 January 2020)

The low prices are due to the mild winter Sweden has had, combined with a long period of a lot of precipitation and relatively windy weather, according to Tomas Jonson, CEO of comparison site Elskling.

"This means that reservoirs are filled to a high level, which provides good conditions for hydro power which represents 40 percent of the country's electricity production," he explained.

Meanwhile, the higher than usual temperatures for the season have helped reduce electricity use, which in turn lowers prices.

"Besides that, we have had record wind power. Swedish wind power has been built up at quite a fast pace and represents almost 15 percent of electricity production," said Jonson.

Make your money go further in Sweden: Top tips for saving in 2020
Simply put, the supply of electricity is greater than the demand, which pushes down prices.

Posted by at January 24, 2020 12:00 AM

  

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