Swedes are annoyed: Electricity is expensive, and it's Finland's fault
Recent spikes in electricity prices in Sweden are being attributed to Finland, particularly due to a newly established cable connection.
Swedish media has been reporting extensively on the rising cost of electricity in Sweden, which has recently reached its highest level in two years. The price of power surged to two crowns per kilowatt-hour, approximately 20 cents in euros, excluding VAT and other costs. This price increase has led to public frustration among Swedes, who are searching for reasons behind this upsurge and have pinpointed Finland as a potential culprit.
The ongoing discourse suggests that the Aurora Line—a new electricity cable connecting Finland and Sweden—has significant implications for electricity pricing in northern Sweden. Traditionally, southern Sweden has been the most expensive region for electricity due to higher demand and scarcity issues, but now even the northern regions are feeling the pinch as the interconnectedness of the electricity market creates a ripple effect. As the article from SVT highlights, the flow of Swedish-generated electricity into Finland, where prices are currently among the highest in Europe, exacerbates the cost issues in Sweden and contributes to the overall price rise.
In this context, Finnish electricity prices were also scrutinized on SVT's Aktuellt news program, revealing a complex relationship between the two countries' energy economies. Increasing electricity costs have the potential to strain the relationship between Finland and Sweden, prompting discussions on energy policy and market management in both nations. The situation calls for careful monitoring, especially as the coming months may bring additional challenges related to energy supply and demand amidst a broader European energy crisis.