Export record in August – Sweden sold electricity for 8.1 billion

During the month of August, Sweden sold electricity for SEK 8.1 billion.

At the same time, we bought quite a bit of electricity - it "cost" Sweden around SEK 800,000.

The net of this trade was thus plus SEK 7.3 billion, a new record.

In 2021, electricity exports in the first eight months of the year yielded 6.9 billion net.

This year, the surplus is more than three times as large - SEK 26.1 billion.

- This surely means that many who produce electricity earn more money than usual, says Erik Ek on Svenska Kraftnät.

"The energy industry does not make big profits"

The statistics do not show which profits Swedish electricity producers have made, or which have earned the most.

But according to the energy companies, the records do not mean that everyone who produces electricity is doing good business.

- Exports become more valuable because of the high electricity price.

Certainly there are companies that receive higher revenues, but it cannot be said generally that the energy industry makes large profits, says Åsa Pettersson, CEO of Energiföretagen. 

Sweden a transit country for electricity

So how does it relate to record exports at the same time as there is talk of an electricity crisis, and a need to save electricity?

Sweden both buys and sells electricity with all its neighboring countries all the time.

Last year, Sweden had a net surplus of electricity of 26 TWh.

This corresponds to the annual production from four nuclear reactors.

Sweden is often a kind of transit country for electricity.

Most of the time, we in Sweden have more electricity than we ourselves need, but not always.

In a normal year, it is only 30 – 40 hours, our imports are larger. 

The electricity crisis is mostly about money, that electricity has become so expensive.

Saving can reduce market demand and keep prices down.

Greater import needs this winter 

The need to import electricity may be greater than usual this winter, mainly because the nuclear power plant Ringhals 4 cannot produce electricity as it is closed for maintenance.

At the same time, it is not obvious that the electricity producers in our neighboring countries can sell electricity to Sweden when we need it most.

There are many indications that the high prices of electricity will continue.

Erik Ek at Svenska Kraftnät believes that new records can be expected both in terms of the amount of electricity we sell and export revenue.  

- So it can be, even in September exports were large.

We will continue to export a lot, but we will possibly enter a colder period with somewhat less electricity surplus.