The governments of Sweden and Finland have announced plans to offer a total of €33bn in liquidity guarantees to power companies in their countries. Sweden will offer SEK250bn (€23.2bn) and Finland €10bn in guarantees destined to avoid bankruptcies and the risk of disruptions in the financial system, which could potentially lead to a financial crisis. The Swedish parliament has subsequently approved Sweden’s policy, which will provide liquidity until March 2023.
During the first two weeks after implementation, the guarantees will include all Nordic and Baltic actors, in order to provide breathing space for neighbouring countries to put their own measures in place. Swedish energy company Vattenfall and Finland’s Fortum have welcomed the move which they deemed crucial to keep companies operational.