Guide: How To Get The Cheapest Energy Contract in Sweden 2024

Moving to Sweden is exciting, but figuring out how to set up your electricity contract–not so much, especially if you’re new to the country. As always though, we're here to help, and in this guide we’ll walk you through some of the goodies like;

• How to compare and choose the best electricity supplier in Sweden
• How to compare and choose the cheapest energy contract in Sweden
• How to sign up for an electricity contract in Sweden that best fits your needs

Whether you're an expat, exchange student, or simply new to Sweden, we’ll get you through all you need to know to get settled with electricity in Sweden. Let’s go!

Electricity in Sweden: What You Need to Know

Electricity in Sweden is best explained by first clarifying its two main parts–electricity grid and electricity trade.

• Electricity Grid: Your electricity grid supplier (or power supplier as it’s also called) is responsible for the physical grid that delivers electricity to your home. Your grid operator is based on where you live, and you can’t choose or change it.
• Electricity Trade: You also have another electricity supplier for your electricity usage. This is the company that supplies and charges you for the electricity you use. You are free to choose your electricity supplier in Sweden based on price, contract type, or even environmental preferences.

Electricity Prices and Contract Types in Sweden

Next up is understanding the different electricity contract types in Sweden. There are a few main types of electricity contracts to choose from:

• Fixed-rate contracts: These contracts lock in your electricity price for a certain period, typically 1 to 3 years. This option offers price stability, which is great for budgeting, but you could miss out on savings if market prices drop, and you're locked-in with the same provider for the duration of the contract term.‍
• Variable-rate contracts: With this option, the price of electricity fluctuates based on market conditions. Rates tend to rise during winter and can fall during periods of low demand, so this could be a riskier option if you want predictable costs. On the contrary, you might be able to save money on your electricity bill when the rates are lower.
• ‍Mixed Contracts: This is, as the name reveals, a mix between variable and fixed. This is suitable if you prefer to have some control over your electricity costs, while still being able to potentially save some money when the prices drop.‍
• Hourly Rates (Spot Price): This is an option growing in popularity in Sweden, where you pay for electricity on an hourly rate basis. This contract option is great for those who can plan their usage throughout the day, and most of the suppliers offering this contract type today has great and user-friendly apps to monitor both current electricity prices, as well as your consumption.

Electricity Rates in Sweden

Electricity prices in Sweden vary quite a lot depending on a bunch of factors, such as the region, the time of year and market demand. The country is divided into 4 regions; SE1 (Northern parts of Sweden), SE2 (Central parts of Sweden), SE3 (Stockholm and surrounding areas) and SE4 (Southern parts of Sweden). 

SE4 is the region with the highest electricity prices in general all year around. Prices can spike during the colder months in all regions, so it’s smart to regularly compare electricity rates in Sweden and stay updated on market trends.

How to Compare Power Suppliers in Sweden

With a variety of power suppliers, or electricity suppliers as it’s also called, to choose from in Sweden, finding the right one might seem a bit tricky, even for most native Swedes. But there are a few tips and tricks to make it a little easier for you to compare:

Step 1: Define what’s important for you

Do you prefer to always be on top of your monthly electricity cost? Or is it more important to potentially save some money by actively handling your electricity consumption? An environmentally friendly option maybe? Each supplier offers different types of contracts, pricing, and sometimes discounts. 

Some suppliers focus on renewable energy, while others may offer the cheapest electricity rates. It’s worth comparing the offerings based on your personal preferences, and that should lay the foundation for which electricity supplier, as well as which contract type, you choose. Start off by defining your top 2-3 most important factors.

Step 2: Compare electricity suppliers in Sweden

Once you’ve defined your preferences, you’re better prepared to compare electricity suppliers. We’ve outlined a list of popular electricity suppliers in Sweden, together with full reviews for each company, so you can conveniently read up on the electricity suppliers matching your preferences and needs. Take your time, and if you have any questions you can always reach out to us for further guidance. Try to narrow it down to 1-3 interesting providers and proceed to find a plan that suits you.

Step 3: Compare electricity plans

Once you’ve pinpointed a few electricity suppliers that tick your boxes, it’s time to check out their plans. You can browse through our table with key essentials about various electricity plans, and proceed directly to the provider to get your personal quote. Make sure to compare monthly fixed fees (which is normal in Sweden), terms, contract lengths, potential surcharges and electricity rates. A lot of electricity suppliers also have discounts and campaigns for new customers.

Step 4: Proceed and sign up for your contract

Once you’re at this stage, you’re more than ready to sign your electricity contract. Most electricity providers in Sweden requires the following when signing up online:

• A Swedish Personal Identity Number or Coordination Number
• BankID
• A Swedish registered address
• Anläggnings-ID (An identification number for your home. Your landlord or housing society have this, so ask them)
• A starting date/activation date

It’s also important to mention that it has to be the same person registered on your electricity grid contract and your electricity trade contract.

Some electricity suppliers might be able to sign you up for electricity without a Swedish Personal Identity Number and BankID, but it usually requires you to contact them in person (via chat, phone or email).

Learn more:

Guide: How To Get A Swedish Personal Identity Number

Complete Guide: How To Get BankID in Sweden

Frequently Asked Questions About Electricity in Sweden

What’s the best electricity company in Sweden?

There’s no single “best” company for everyone, but popular options include Telinet Energi, Tibber and Skellefteå Kraft. As mentioned, the right one for you will depend on your preferences, for example whether you want the cheapest electricity rates in Sweden, renewable energy, or a flexible contract.

What’s the difference between a power supplier and electricity supplier?

‍In Sweden, power supplier and electricity supplier are just two different terms for the same thing. Some might consider “power supplier” to be the grid owner, but that’s not necessarily true. So, whether you see "power supplier" or "electricity supplier" in this guide, know that they mean the same thing.

How do I find the cheapest electricity rates in Sweden?

You can use our comparison table of electricity plans, as well as comparison tools available at more or less all electricity suppliers' own websites, and check the current rates. Be sure to compare both fixed, variable-rate and hourly rates to find a contract that works best for your situation.

Can I switch electricity suppliers in Sweden if I find a better deal?

Yes, you can switch! Most electricity contracts allow you to switch suppliers after a certain period, but be sure to read the terms of your contract to avoid any early termination fees. By regularly checking out deals, discounts and contracts, you might be able to lower your electricity bill by changing suppliers.

Ready to Sign Up for the Best Electricity Deal in Sweden?

By following this guide, comparing electricity suppliers, understanding your energy needs, and staying up-to-date on electricity rates in Sweden, setting up your electricity contract in Sweden doesn’t have to be so complex. 

Ready to get started? Check out some of the top electricity companies in Sweden right here at Settled.se, and sign up today! 

Have any questions? Just reach out to us!