Both the Stockholm Chamber of Commerce and the electricity company God El have calculated how high the electricity bills for normal households could conceivably be this winter.

According to God El, the electricity for a normal villa that consumes 20,000 kilowatt hours per year in the most expensive area in Skåne can cost almost SEK 17,000 a month, which is SEK 12,900 more than the corresponding month last year.

A small apartment with a consumption of 2,000 kilowatt hours per year can mean electricity bills of SEK 1,200 per month.

During the winter of 2020/2021, the electricity cost for the villa was 1,600 kroner per month, and one hundred ring for the apartment.

"Extremely pessimistic"

The Stockholm Chamber of Commerce has counted on a longer period, the entire winter half year.

Their calculations point to electricity bills of SEK 85,000 in electricity area 3 and SEK 95,000 in electricity area 4, based on a normal villa's consumption of 20,000 kilowatt hours per year.

- Households are extremely pessimistic about their household finances.

Many will have to cut back on all consumption except that which is absolutely necessary, says Stefan Westerberg, chief economist at the Stockholm Chamber of Commerce.

Could be worse

But the calculations from the Stockholm Chamber of Commerce and God El are just forecasts.

It could be worse than that, notes Maria Erdmann, CEO of God El.

- It is an incredibly serious situation.

The government's quick decision this weekend on liquidity guarantees for electricity producers underlines that, she says.

It was only a couple of years ago that the electricity price was around 20 öre per kilowatt hour on average.

Now it looks like it will rush up to 7 kroner and 40 öre in electricity area 4 after the turn of the year.

-There is a maximum price on the electricity exchange Nord Pool.

Until a couple of weeks ago, it was SEK 40 per kilowatt hour.

But then Latvia hit the ceiling for two hours.

Now it has been raised to SEK 52 per kilowatt hour, says Maria Erdmann.

On September 21, the maximum price will be raised further to SEK 65 per kilowatt hour.

This is how the electricity market works:

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See Bengt Ekenstierna's explanation of the electricity market with water and buckets in the clip.

Photo: Carolina Svalbacke