energy crisis - Latest news GMK Center

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

The company's blast furnaces will be partially stopped at enterprises in France, Poland, Spain and Germany

The exact amount Jingye Group is asking is unknown – it could be several hundreds millions of pounds

The government will introduce mechanisms for an emergency reduction in gas prices and containment of electricity prices

The current gas price of around €200/MWh creates a difficult situation for energy-intensive industries

During the next three months, the electric arc furnaces at the plant will not work for several days a week to save electricity

Tax discounts included in the decree «Aiuti ter» will allow reducing the impact of energy costs in energy-intensive industries

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

Analysts believe that state intervention has become structural

The reason was the refusal of the Austrian Donau Brennstoffkontor GmbH to supply coke

The company is counting on an agreement that will allow the company to idle any of its plants in Spain for any period until the end of 2023

High electricity prices and low demand for steel forced the company to shut down two furnaces in Cremona and one in Terni