- Together with the Norwegian government, we are initiating a "task force" for the Scandinavian countries on the development of the market model. Sweden and Norway join forces to ensure safe access to electricity and low prices in the Nordic countries. We want to find common solutions to common challenges, says Swedish Minister for Energy and Digitization Khashayar Farmanbar.

In a situation where all of Europe is extremely affected high energy prices, it is more important than ever to find solutions and models that will ensure a well-functioning electricity market. It is important to ensure lower prices for households and businesses and therefore economic growth.

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- Neighboring Scandinavian countries have been exchanging energy since the 60s. In view of the ongoing energy crisis in Europe, we want intensified cooperation to find good measures to ensure a well-functioning electricity market. All this so that we can recover with sufficient and reasonable power and for the benefit of industry and society. Liquidity problems have been reported in some parts of the financial energy market and the measures announced in Sweden and Finland will contribute to promoting better financial stability in the Nordic region. It is important. Norwegian funds are not needed now, but we are following the developments closely, says Oil and Energy Minister Terje Aasland.

What can be done to cut high prices?

Norway and Sweden will work towards increased cooperation in the area of ​​electricity. They will quickly establish a working group to examine what can be done to reduce high prices. Denmark and Finland will be invited to participate in this work from the very beginning.
The working group will also follow ongoing discussions in the EU and any new proposals on the structure of the electricity market from the European Commission. The group must make its recommendations as soon as possible and before the Nordic Energy Ministers' meeting in Oslo on 28 November.

At their meeting in Stockholm today, the two energy ministers also discussed other important topics. The talks focused on carbon capture and storage and offshore wind energy.

Source: regjeringen

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