Russia's invasion of Ukraine and Europe's dependence on natural gas means that many are now agonizing over the coming winter months.

Sweden's government has proposed that state authorities implement energy-saving measures, but in the election campaign the issue of saving electricity has been conspicuous by its absence.

The announcement that the shutdown at the Ringhals 4 nuclear power reactor is being extended until January 31 did not make the situation any better.

Analysts are worried about skyrocketing prices and Svenska kraftnät has confirmed that it increases the risk of power outages in southern Sweden.

"Good if you're trying to cut back"

Both MSB and Svenska kraftnät now want private individuals to start reviewing their electricity consumption to alleviate the expected crisis.

- You should always save on energy and when we are now on the margin, it is good if you try to reduce consumption to avoid this situation, says Jan-Olof Olsson, manager of supply preparedness at MSB, to SVT.

But if no measures are taken, electricity prices in southern Sweden will likely double in the coming winter, compared to the average so far this year.

This is stated in a new report from the energy industry's research company Energiforsk, which will be released on Monday, and which SVT has seen.

According to the report authors, saving electricity is the fastest available measure to reduce prices in the short term, as demand will be lower.

Energiforsk's calculations are based on a scenario where the average wholesale prices for electricity in southern Sweden rise to between 2 and 4 kroner per kWh (150-300 euros/MWh) this winter, with significantly higher hourly and daily peak prices.

Halved electricity prices in southern Sweden

If the proposed EU target, to save 10 percent of total use by March 2023, is achieved, it could halve electricity prices in southern Sweden, according to Energiforsk's calculations.

- We believe that if the entire EU succeeds in this quite quickly, then we believe that southern Sweden can get electricity prices that are approximately SEK 1.50, says Markus Wråke, CEO of Energiforsk.

Even if the savings were to be limited to southern Sweden, it could have a significant effect.

- We have counted on a 5 percent reduction and then the electricity price will drop by approximately 40 öre in our forecasts, says Wråke.

Two more measures that the report lists to bring prices down are increased electricity production and increased transmission capacity.

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This is how previous energy crises in the 50s, 60s and 70s affected the Swedish people.

Photo: Vattenfall/SVT