Sweden is very well positioned due to well developed hydro, but when germany was forced to give up russian gas, more electricity was exported, causing record high prices.

Interestingly, the hydro plants are located in the north and the national power grid is not dimensioned for massive export, so the export to germany from the south of sweden caused a strong price gradient.

Yes, I read that in other comments too, and it's the main factoid for me to take away.