Sweden downgraded its power-cut risk to “low” from “real” in a further sign that Europe’s energy crisis has passed, at least for this winter.
(Bloomberg) — Sweden downgraded its power-cut risk to “low” from “real” in a further sign that Europe’s energy crisis has passed, at least for this winter.
Electricity and gas prices across the region have plunged in recent months. A mild winter and energy-saving efforts by homes and factories have curbed demand as Europe diversifies away from Russian fuel.
“Our new call is because of an improved energy situation in northern Europe, as well as reduced consumption during peak hours,” Pontus de Mare, senior vice president of power-system operations at Swedish grid operator Svenska Kraftnat, said Monday.
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The assessment still assumes stable power production in the region, so any major unexpected outages could lead to a change. It’s based on an assumption that Sweden’s Ringhals-4 reactor, due to restart March 19, will be unavailable for the rest of the winter, De Mare said in a statement.
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