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Businesses could face power shortage amid coal, gas phase out

Sweden power plant

Swedish businesses including factories and transport operators could face a power shortage after the government hiked a tax on fossil fuels threefold in an effort to phase out the country's last remaining coal and gas plants, Bloomberg reported. Power output from local utilities is likely to plummet while grids in Stockholm and Malmo among other cities will not be able to hook up to new facilities due to a lack of cables and power infrastructure.

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