Sweden to help households as electricity prices soar

Sweden's government says it has earmarked some 6 billion kronor ($661 million) for a temporary scheme to help the most affected households across the Scandinavian country cope with high electricity bills this winter

STOCKHOLM -- Sweden announced Wednesday it had earmarked some 6 billion kronor ($661 million) for a temporary scheme to help the most affected households across the Scandinavian country to cope with high electricity bills this winter.

Households consuming more than 2,000 kilowatt hours per month can get compensation worth about 2,000 kronor ($220) per month for the three months December-February. Some 1.8 million households are affected, the government said.

“This is an exceptional measure in an exceptional situation, it is unusual to go in with support when prices fluctuate in markets,” said Finance Minister Mikkel Damberg.

Sweden's one-party, minority Social Democratic government is expected to get majority backing for the plan in the 349-seat Riksdag.