Electricity support may come as early as this year: “We are doing everything in our power”

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The parties have promised that electricity consumers will be compensated for the high electricity price. And there is a chance that the money can be paid out already this year, according to Svenska kraftnät.Published: 5 October 2022, 06:19Before the election it rained promises from both the right and the left of high-cost protection for those facing expensive electricity bills this winter. Regardless of which government is in power, it is intended that the electricity subsidy should be able to be financed by Svenska kraftnät’s bottleneck fees, or formally capacity fees that the authority collects when electricity is to be transferred from one electricity price area to another. The S government at the time gave Svenska kraftnät the task of developing a proposal for what the support should look like and how it should be paid out to electricity customers, with a final date set for 15 November. The preliminary payment of the money according to the assignment is set for next year, but it could be earlier than that, according to the authority. “It is not locked in that it will take place in 2023, but it could be sometime this year or next year,” says Malin Stridh, who is head of the electricity market at Svenska kraftnät. At the moment, they are working as fast as they can to get the proposal done as soon as possible, according to Malin Stridh. When more precisely However, how the electricity subsidy can be paid is extremely uncertain, Malin Stridh wants to underline. “This is extremely important for both consumers and companies, so we do everything in our power to try to get it out as quickly as possible and when it does the most good.” , she says. Nor does it depend solely on Svenska kraftnät how quickly the process goes. The proposal will then be handled by the Energy Market Inspectorate (EI), which, among other things, will ensure that EU rules are followed. But if it goes ahead without obstacles, there is a chance that electricity customers could receive the electricity subsidy as soon as this year. Regardless of which government we have, the billions from Svenska kraftnät’s capacity fees play an important role in how soon the money can be paid out to electricity customers. The then S government promised before the election that 90 billion of Svenska kraftnät’s bottleneck fees would be returned to households and businesses, and assigned the authority the task to find out how this is to be done. At the same time, the joint election promise from M, KD, SD and L was that a high-cost protection would be in place no later than the first of November, something that rhymes a little worse with Svenska kraftnät’s current deadline.The moderates, on the other hand, have emphasized that the support must also apply retroactively from the first of August, and that the timing of its introduction is of less importance. How quickly customers can take part in the support then depends on how quickly Svenska kraftnät can develop its proposal, according to M. At the same time, Svenska kraftnät assesses that the inflow of bottleneck charges may likely increase during the rest of the year and into next year, depending on how electricity prices Develops. The forecast for 2023 is another approximately SEK 70 billion in the form of capacity fees. The preliminary amount that is set to be paid out in the form of electricity subsidies is currently based on the previous forecast. However, it is not certain that the increased inflow of capacity fees will reflect itself in the fact that the electricity subsidy paid out to households and companies also in turn becomes larger. In the assignment that Svenska kraftnät has been given, there are also other measures that must be taken into account, such as, for example, reinvesting the money in the electricity grid. But it’s an incredibly important mission that we have to review,” says Malin Stridh.

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