Sweden Switches On Old Oil-Burning Power Plant as Electricity Prices Soar to Record Highs
According to Larsson, the oil used comes from the refinery in Lysekil run by Preem.At the same time, power prices in the southern part of the country reached an all-time high, soaring as much as 51% at Nord Pool ASA.Southern Sweden is particularly vulnerable to low wind levels after several nuclear reactors were shut over the past few years as part of the decades-old plan envisaged by the 1980 referendum on nuclear power. Summer maintenance at some of the existing reactors raised the Karlshamn station to a vital position to meet the power demand.Since 2021, energy prices in Europe have been growing as part of a global trend. However, following the start of Russia's special military operation to de-Nazify and demilitarize Ukraine, the West has stepped up sanctions pressure on Moscow, which has backfired spectacularly and led to an additional spike in prices for energy and food in Europe and the US.
Ever since, the EU has been seeking to diversify energy imports and reduce dependence on Russia, to the point of abandoning its sustainability goals and dusting off oil and coal power stations.To alleviate the looming crisis, numerous energy-saving measures are being tried across Europe, ranging from turning down heating temperatures and taking cold showers to switching off illumination.