1、ELECTRICITY PRICE SHOCK AND SWEDISH EXPORTSHow Swedish manufacturers are impacted by the energy crisis BUSINESS SWEDEN|ELECTRICITY PRICE SHOCK AND SWEDISH EXPORTS|2LENA SELLGRENChief Economist Business SwedenFOREWORD AND REFLECTIONSThe price of electricity in Sweden and Europe is soaring,with major

2、repercussions for society.This shouldnt have come as a surprise.Much like the run-up to the global financial crisis more than a decade ago,all the pieces of the puzzle were again perfectly lined up.The Energiewende policy in Germany,with its shutdown of nuclear power facilities and major investments

3、 in gas supply from a resurgent Russia.The ageing nuclear power plants in France,Europes largest exporter of electricity.The rapid expansion of and rising dependence on wind power where production output relies on weather patterns.And,not least,the interconnected European energy system where spiking

4、 gas prices ripple out and affect electricity pricing overall.Swedish manufacturers have historically ben-efited from reliable access to renewable energy at prices that,for the most part,have been lower than in the rest of Europe.With hydropower and,at a later stage,nuclear power,Swedens energy supp

5、ly was safeguarded for many trouble-free decades.Another Swedish natural resource,for-est biomass,made biofuels a welcome addition to electricity generation in heat and power stations.The current transformation of Swedens energy system has changed the playing field for Swed-ish manufacturers.Meanwhi

6、le,electricity use is expected to rise sharply as a result of industrial investments in northern Sweden and the electrifi-cation of the transport system.The vulnerabilities of Europes energy supply,which includes electricity production,are now in the spotlight because of the war in Ukraine.Europes g