(MENAFN- AzerNews)
By Trend
The Swedish government on Wednesday unveiled a plan to subsidize
electricity bills for households and businesses to ease the pain of
soaring electricity costs, Trend reports citing Xinhua .
Households and companies will both be compensated with at least
30 billion Swedish crowns (2.9 billion U.S. dollars), Swedish Prime
Minister Magdalena Andersson announced at a press conference.
'The higher the electricity prices become, the larger the amount
will be. This is a completely new way of thinking and the
background is that the market was not created for such extreme
situations as we have right now,' Andersson said.
On Tuesday, electricity prices in southern Sweden hit a record
high of 7.68 crowns per kilowatt hour.
Analysts expect the electricity prices to soar even higher
during the coming winter, making Wednesday's new relief package
necessary.
A more detailed plan of the package will be presented in
November.
(1 Swedish crown = 0.096 U.S. dollars)
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