Swedish Electricity Costs Soar

The cost of Swedish electricity is rising rapidly. In the last month alone, it rose by 54 percent to just over 16 cents per kilowatt-hour, and it is expected to increase even more.

The main reason is that several cables between Sweden and Norway are out of service, forcing Swedes to buy coal fuel from Denmark and Germany.

In addition, the price of coal has gone up by 250 percent in the last year, mainly due to China’s huge coal imports. According to a report on Swedish Television a dry summer could result in the highest ever costs for electricity in Swedish history.