The Czech government will give district heating plants more freedom of emissions to save gas

Sweden offers guarantees to energy companies after Nord Stream shutdown

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STOCKHOLM, September 3 (Reuters) – Sweden will offer several hundred billion SEK liquidity guarantees to energy companies to help avert a financial crisis after Russia’s Gazprom. (GASP.MM) The Prime Minister said on Saturday that the Nord Stream 1 gas pipeline has been closed.

The government will put forward a proposal that will allow it to issue loan guarantees, Finance Minister Mikael Damberg said, adding that all the country’s parliamentary parties and the speaker have been informed.

Prime Minister Magdalena Andersson’s announcement came after Russia canceled a Saturday deadline for resuming gas supplies via Nord Stream 1, which runs under the Baltic Sea, exacerbating Europe’s difficulty securing winter fuel. read more

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“If we do not act, there is a serious risk of disruptions in the financial system, which in the worst case could lead to a financial crisis,” Andersson said.

“Putin wants to create a split, but our message is clear: you won’t succeed,” she added.

Sweden is experiencing its highest inflation rate in 30 years, and the central bank has raised rates twice this year, with a sharper increase expected before the end of the year. read more

Soaring electricity bills, rising interest rates and slowing economic growth dominated the 9/11 election campaign.

On Wednesday, Damberg said the government was looking to allocate 90 billion SEK ($8.36 billion) to ease consumer suffering from record electricity prices this year and next. read more

(1 dollar = 10.7633 SEK)

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Reporting by Supant Mukherjee and Johan Alander in Stockholm. Editing by Jason Neely and Helen Popper.

Our standards: Thomson Reuters Trust Principles.

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