energy crisis - Latest news GMK Center

Investments will be directed to the restart of production processes and ensuring employment and higher results of the enterprise

Loads of steel mills have decreased due to falling global demand for steel and rising electricity costs

The European generator will assist in evacuating people from the mine in the event of a power outage

In January-November 2022, the country's steelmakers reduced steel production by 7.9% y/y

The autumn months adjusted the cost of electricity by an average of €300 MWh from the peak price in August 2022 – to €150 MWh

This figure is already almost comparable to approximately €480 billion, which the country has directed since 2020 to protect its economy from the impact of the coronavirus pandemic

The Hungarian authorities asked the Polish Liberty Steel to ship raw materials for Dunaferr in order to continue the operation of the coke batteries of the plant

The company expects to receive a response from the UK's authorities to confirm and improve the operation of the scheme after March 2023

Longer shutdowns of steelmakers for maintenance will affect scrap consumption in the first quarter of 2023

The shutdown of the unit is due to high electricity costs and a drop in demand for finished products

European prices in late November and early December were also affected by the decline in wind power capacity

Problems with energy security due to the war in Ukraine contribute to the increase of investments in green generation