Electricity distributors in Sweden want to terminate multi-year contracts with private customers, referencing the force majeure clause
Electricity distributors in Sweden want to terminate multi-year contracts with private customers, referencing the force majeure clause
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> According to Ekot sources, some electricity companies want to terminate long multi-year electricity contracts with private customers with reference to the force majeure clause.
>The reason is that the electricity companies fear that electricity prices could be high for a long time, and their finances could be dramatically affected
>According to electricity companies, the current situation with throttled gas deliveries and rampant electricity prices could be considered force majeure, an unforeseen event, which is based on the war in Ukraine.
This doesn’t sound right. They still can deliver electricity, but they are bound by the contract *they wrote* to do so below market value.
It seems to me like a lesson in financial planning.
just image you try to get out of an expensive contract as a private person because you lost your job. no way for you. in turn, companies such as these will just do it and get away with it.
Market situation is **NOT** a force majeure
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Change my mind
Heads I win, Tails you loose…
Fuck energy distributors
Profits are private, losses are socialized. Nothing new under the sun.
When you sign long contracts with distributors in Sweden, the purpose of that contract is to put the risk on them, in exchange for a higher price. Now that those contracts actually benefit the consumers they try to back out instantly? Shameful. They signed away their rights to bitch and moan when they agreed to take on the risks.