Sweden has plenty of cheap hydropower. But as prices are now tied to countries like Germany which made catastrophic decisions around energy, Swedes have to pay much more than if Sweden had an independent energy market.
The solution to which is to generate even more power in Sweden (so you can sell it off cheap and have it cheap too) or that Germany produces power more cheaply so that it's not giving Sweden so much money for electricity. Both of these should happen if the market is set up well.