electricity prices - Latest news GMK Center

Ukrainian industrial companies emphasize that this may lead to production stoppages

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

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

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

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

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

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

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

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

Steelmakers and industrialists from other energy-intensive industries emphasize the impossibility of continuing production in Europe under current conditions