electricity prices

Electricity prices in the EU fell significantly in October 2022

The cost of electricity is still higher than at the beginning of the year

Marginal electricity prices may increase by 50% in October 2022

Ukrainian industrial companies emphasize that this may lead to production stoppages

European governments save steel industry from high electricity prices

Spot electricity prices vary across European countries, and governments are introducing packages of measures to overcome the energy crisis

European steel producers fear a deepening recession due to the energy crisis

The steel sector replenishes the budgets of European countries with tens billions of euros, but mass shutdowns of capacities will negatively affect the amount of tax revenues

Electricity prices in Italy increased by 2.3 times from the beginning of 2022

In August 2022, the average spot price for electricity in Italy was €537 per MWh, compared to €229.6 per MWh in January 2022

The EU to set a price ceiling for electricity at €180 MWh

The cap will apply directly to the price of electricity produced by non-gas plants

The Spanish government promised to support the steel industry in the event of energy crisis

In recent months, the country's government has allocated more than €850 million to support local gas and electricity-intensive industries

European steelmakers to help politicians overcome the energy crisis – EUROFER

Current gas and electricity prices threaten the viability of the industry in Europe, the association believes

ArcelorMittal will shut down one of the blast furnaces at the plant in Poland at the end of September 2022

The company explains this step by the drop in demand for steel and the increase in the energy costs

Rebar producer Acciaierie di Sicilia will temporarily stop production in Catania

Having worked for only a week after the previous downtime, the company shuts down again due to high electricity prices

Megasa will temporarily stop night production due to high electricity prices

With this step, the company expects to reduce electricity costs without stopping production

Slovenia’s SIJ Group will reduce production by the end of 2022

In September, the company plans to reduce production by a third, and in the fourth quarter – by 40%

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