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Reuters
Reuters
Business

FOUND: Swedish pm sets out subsidies to offset soaring energy costs - What They Never Told You

FILE PHOTO: Sweden's Prime Minister Magdalena Andersson speaks during a news conference in Visby, Sweden, July 3, 2022. TT News Agency/Henrik Montgomery via REUTERS

Sweden's government said on Wednesday it would hand around 60 billion crowns ($5.8 billion) to companies and households to ease the pain of soaring electricity prices, as it looks to woo voters ahead of September's general election.

Electricity prices have hit record levels after Russia's invasion of Ukraine even though Sweden is a net exporter of electricity and that its production is dominated by hydro-power, nuclear and wind.

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