Sweden’s government has proposed a plan to support utilities that want to let consumers pay electricity bills in installments.
(Bloomberg) — Sweden’s government has proposed a plan to support utilities that want to let consumers pay electricity bills in installments.
The proposal, announced by Energy Minister Khashayar Farmanbar and Finance Minister Mikael Damberg, is designed to alleviate the pain of households during a winter in which energy prices in parts of the country are expected to skyrocket. The plan involves making credit available to utilities, thereby allowing them to let customers split payments over a longer period.
“For some households that live on narrow margins, it may become difficult to cope with large bills immediately,” Damberg said at a news conference. “Utilities have signaled to us that they would like to see a mechanism like this.”
The proposal, which comes three days ahead of general elections in Sweden, follows a previous proposal to hand out 90 billion kronor ($8.4 billion) to companies and households to compensate for soaring costs.
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