“The very essence of German industry is under threat” due to the energy crisis, warns the president of the Association of German Industry (BDI) Siegfried Rushburm, and stresses the need for clarity on whether current savings in the event of gas shortages will be possible in the future some degree to be compensated.
“The situation in the electricity and natural gas markets is dramatic: electricity prices for 2023 have exceeded 700 euros/MWh – more than 15 times the price level of previous years. The price of natural gas has increased by 1000 % exceeding 300 euros/MWh. The situation is already or will soon be toxic for many companies, not only because of the lack of gas, but mainly because of the completely irrational price increases”, emphasizes in a statement Mr. Rushburm, who attended yesterday’s cabinet meeting at Brandenburg’s Messeberg Castle. Mr Rushburm also reports that in July the industry’s natural gas consumption was 21% lower than in the same month of 2021, which is due to the dramatic drop in production. “This is the expression of a huge problem”, he emphasizes and calls for the simplification of the approval of the increase in the use of lignite and the extension of the operation of the country’s nuclear plants.
SOURCE: AMPE
Source: Capital
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