Supplementary Budget for 2023 - Temporary Tax on Certain Electricity Producers' Excess Income

The plan sees the privatized electricity market's high prices as a political failure, wants the public to take over the electricity grid to lower household charges and requires that those with large capital assets contribute more to the transition. A tax on excess profits is then not enough, and the plan speaks for the complementary measures the counter-proposal calls for.

• public electricity grid, lower chargesdecisive»Det offentliga ska ta över ansvaret för elnätet, vilket kommer leda till minskade avgifter för hushållen.« (2022 manifesto ↗)“The public shall take over responsibility for the electricity grid, which will lead to reduced charges for households.”
• privatization meant higher electricity»Privatiseringar har lett till dyrare elpris« (2022 manifesto ↗)“Privatizations have led to higher electricity prices”
• capital should contribute more»Det är hög tid att de få som har stora kapitaltillgångar bidrar mer till omställningen.« (2022 manifesto ↗)“It is high time that the few who have large capital assets contribute more to the transition.”
• tax large gains»Vi vill inte höja skatten för vanliga löntagare utan på mångmiljonarv, lyxvillor och stora aktievinster som man inte ens behöver jobba för.« (2022 manifesto ↗)“We do not want to raise taxes for ordinary wage earners but on multimillionaires, luxury villas and large stock gains that you don't even have to work for.”

Worldstate weighed in: Electricity price and inflation crisis with extreme excess profits in electricity production — A crisis situation the plan did not foresee, which sharpens the demand that capital contributes and that households are protected.

The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.

The plan explicitly states that the party is ready to make further efforts in case of continued high electricity prices and to support those most affected with targeted support. With electricity prices far above normal, the tax on excess profits is therefore not sufficient according to the plan's own commitments. The plan also wants revenues not used for network investment to be used to reduce price differences and costs.

• further efforts with high electricity pricesdecisive»Vi är också beredda att göra ytterligare insatser vid fortsatt höga priser.« (2022 manifesto ↗)“We are also ready to make further efforts in case of continued high prices.”
• targeted support»Med riktade och smarta stöd kan vi stötta människor utan att driva på inflationen.« (2022 manifesto ↗)“With targeted and smart support we can help people without driving inflation.”
• revenues to lower electricity costs»Vi vill se till att intäkterna från kapacitetsavgifter som inte används för nätinvesteringar används både för att minska prisskillnaderna och sänka kostnaderna.« (2022 manifesto ↗)“We want to ensure that revenues from capacity charges not used for network investment are used both to reduce price differences and lower costs.”
• more electricity production against high prices»Minska trycket på elpriserna genom en snabbt utbyggd elproduktion.« (2022 manifesto ↗)“Reduce pressure on electricity prices through rapidly expanded electricity production.”

Worldstate weighed in: Electricity price SE3 3.27 SEK/kWh in December 2022 — triggers the plan's explicit readiness for further efforts with continued high prices; Inflation 11.5 per cent — complementary measures must be targeted to avoid driving inflation

The counter-proposal does not specify which complementary measures are intended. The plan's closest commitments are that those with the most money shall contribute more through progressive capital taxation while those with the least resources get more support, that energy efficiency shall be supported forcefully and that economic disparities shall decrease. Based on these principles, the plan speaks for going further than the proposed tax.

• the richest contribute moredecisive»att de med mest pengar, som också orsakar större utsläpp, ska bidra mer till omställningen och välfärden genom en progressiv beskattning av kapital.« (2022 manifesto ↗)“that those with the most money, who also cause greater emissions, shall contribute more to the transition and welfare through progressive capital taxation.”
• support in the energy crisis»införa ett kraftfullt stöd för energieffektivisering till både hushåll och industrier.« (2022 manifesto ↗)“introduce forceful support for energy efficiency to both households and industries.”
• reduced disparities»De ekonomiska klyftorna ska minska.« (party programme ↗)“Economic disparities shall decrease.”

flags: motforslaget_ospecificerat

The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.

The plan's decisive commitment is that the production of emissions-free electricity shall be doubled and at least 50 TWh must begin construction during the parliamentary term, which requires predictable conditions for those who invest. The plan also rules out tax increases that damage jobs and saving. Additional measures beyond the already proposed tax on excess profits would undermine investment willingness, and the plan therefore speaks against the requirement.

• doubled emissions-free electricitydecisive»Vi vill fördubbla produktionen av utsläppsfri el, och rusta och bygga ut elnätet.« (2022 manifesto ↗)“We want to double the production of emissions-free electricity, and upgrade and expand the electricity grid.”
• investments in new electricity production»Minst 50 TWh utsläppsfri el måste börja byggas nästa mandatperiod.« (2022 manifesto ↗)“At least 50 TWh emissions-free electricity must begin construction next parliamentary term.”
• no damaging tax increases»Vi kommer inte att medverka till några skattehöjningar som skadar jobben, det egna sparandet eller gör det dyrare att bo.« (2022 manifesto ↗)“We will not participate in any tax increases that damage jobs, personal saving or make housing more expensive.”
• predictable rules of the game»Ekonomin ska ha givna och förutsägbara spelregler« (party programme ↗)“The economy shall have set and predictable rules of the game”

Worldstate weighed in: Energy price shock with extreme electricity prices winter 2022/23 — Justifies a temporary tax on excess profits, but simultaneously reinforces the plan's requirement for investment conditions for new electricity production

The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.

The plan requires measures against the electricity price shock here and now, beyond individual tax measures: lowered VAT on electricity and abolished special tax on electricity, investments in the power system and energy storage. The plan also establishes that increased energy and environmental taxes shall be compensated by tax reductions. The counter-proposal's demand for supplementary measures beyond the excess profits tax is therefore in line with the plan, even though the plan does not take a position on this particular tax.

• mitigate the electricity price shock nowdecisive»Vi vill både sänka elmomsen och den särskilda extraskatten på el för att mildra elprischocken här och nu.« (2022 manifesto ↗)“We want both to lower the VAT on electricity and the special tax on electricity to mitigate the electricity price shock here and now.”
• investments in the power system»Ska vi få ner elpriserna krävs att vi bygger inte bara kärnkraft utan också mer sol- och vindkraft i hela landet, investerar i kraftsystemet och satsar på energilagring.« (2022 manifesto ↗)“To bring down electricity prices, we need to build not only nuclear power but also more solar and wind power throughout the country, invest in the power system and invest in energy storage.”
• compensation for increased energy taxes»Höjningar av miljöskatter och slopade subventioner ska kompenseras med skattesänkningar« (party programme ↗)“Increases in environmental taxes and abolished subsidies shall be compensated by tax reductions”

Worldstate weighed in: Electricity price crisis and 11.7 per cent inflation — Strengthens the plan's demand for measures for households' electricity costs now

The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.

The election manifesto starts from the assumption that the electricity price shock requires further measures and promises a shock absorber in electricity tax when electricity prices rise, with stated concern for those affected by electricity poverty. The party programme wants to avoid drastic price changes. The plan therefore supports complementary measures beyond the excess profits tax, but the requirement for long-term rules for businesses points in the opposite direction.

• shock absorber in electricity taxdecisive»Inför en “stötdämpare” i elskatten så att den sänks om elpriserna ökar.« (2022 manifesto ↗)“Introduce a 'shock absorber' in electricity tax so that it is reduced when electricity prices rise.”
• counter electricity poverty»Vi ser den som drabbats av elfattigdom« (2022 manifesto ↗)“We see those affected by electricity poverty”
• no drastic price changes»Målet är ett ekologiskt hållbart energisystem utan drastiska prisförändringar, elbrist eller andra betydande påfrestningar på välfärd och sysselsättning.« (party programme ↗)“The goal is an ecologically sustainable energy system without drastic price changes, electricity shortages or other significant strains on welfare and employment.”
• long-term rules for businesses»Det är viktigt att de regler staten ställer upp för företagen är långsiktiga.« (party programme ↗)“It is important that the rules the state sets up for businesses are long-term.”

The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.

The plan's decisive commitment is that the electricity crisis requires acute measures beyond returning revenues to households: high-cost protection, more dispatchable district heating and a review of electricity price areas. The plan thus sees a tax on windfall profits as insufficient in itself and points to several complementary measures. Thereby the plan supports in substance the counter-proposal's demand for complementary measures beyond the proposed tax.

• acute measures in electricity crisisdecisive»Men för att mildra elkrisen i vinter behövs akuta åtgärder så att hushållen har råd att betala sina elräkningar.« (2022 manifesto ↗)“But to mitigate the electricity crisis this winter, acute measures are needed so that households can afford to pay their electricity bills.”
• high-cost protection for households»Skydda hushållen mot vinterns elräkningar genom ett högkostnadsskydd« (2022 manifesto ↗)“Protect households against winter electricity bills through high-cost protection”
• more dispatchable electricity production»Ta bort avfallsförbränningsskatten för att öka elproduktionen från kraftvärmeverken« (2022 manifesto ↗)“Remove the waste incineration tax to increase electricity production from district heating plants”
• review of electricity price areas»Se över elprisområdenas utformning« (2022 manifesto ↗)“Review the structure of electricity price areas”

Worldstate weighed in: Electricity price SE3 and inflation at 11.7 per cent — makes the plan's demand for acute crisis measures directly applicable to the vote

The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.

The plan's energy policy commitment is lower tax on electricity and that levies that plague electricity production should be removed, not more interventions against producers beyond the already proposed tax. The counter-proposal's demand for additional complementary measures points in the opposite direction from the plan's goal of reliable and cheap electricity. The committee's reasons that the limit should be set so that producers can cover their costs lies close to the plan's view on electricity production conditions.

• lower tax on electricitydecisive»Sänka skatten på elenergi permanent för att underlätta elektrifieringen« (2022 manifesto ↗)“Reduce the electricity tax permanently to facilitate electrification”
• criticism of levies on electricity production»skattepålagor som plågar kraftvärmen« (2022 manifesto ↗)“tax levies that plague district heating and cogeneration”
• reliable and cheap electricity»Säkra tillgången till pålitlig och billig el genom satsningar på framtidens kärnkraft.« (2022 manifesto ↗)“Ensure access to reliable and cheap electricity through investments in future nuclear power.”
• competitive district heating»Stärka konkurrenskraften för fjärr- och kraftvärmen« (2022 manifesto ↗)“Strengthen the competitiveness of district heating and cogeneration”

Worldstate weighed in: Electricity price crisis and inflation of 11.7 percent — Actualizes the plan's demand for cheap electricity and argues against further levies on electricity production