energy crisis - Latest news GMK Center

The UK's industry will not be able to compete if it pays twice as much as the EU for electricity

The UK and Norway allocated €105 billion for this

From 2023, industry will receive 70% of annual gas consumption at a price of 7 euro cents/kWh

The share of energy costs in the steel industry increased from 7% to 27%

Total support for Spain's energy-intensive industry is €244 million, of which the steel sector accounts for 37.5%

The available amounts of electricity are not enough to support production even at 20% capacity

European countries will feel the hardest hit as the Russian war hits business activity and causes a spike in energy prices

Energy-dependent industries will actively explore the possibility of moving production

A third of the funds will go to tax credits for enterprises

The funds will be directed to mitigating the consequences of winter for the population of Ukraine

There is a high risk of investment displacement from energy-intensive production sectors of the EU

Companies in the industry are working with reduced volumes and are implementing energy saving measures