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Looking at this chart [1] they're still 6 or 7 times more expensive compared to two years ago and further back, i.e. ~15 EUR/Mwh compared to the present ~100 EU
by paganel 4y ago
Looking at this chart [1] they're still 6 or 7 times more expensive compared to two years ago and further back, i.e. ~15 EUR/Mwh compared to the present ~100 EUR/Mwh. No energy-intensive industry can sustain a 6 or 7 times price increase of its core input.
[1] https://tradingeconomics.com/commodity/eu-natural-gas https://tradingeconomics.com/commodity/eu-natural-gas
- dotancohen 4y agoThat's going to shut down a lot of aluminium in countries that use petrochemicals to process it. Iceland is going to see its industry boom, as they use geothermal to process aluminium. I'd once heard the argument that Iceland exports energy in the form of aluminium billets. That's becoming more and more apparent now.
- Cthulhu_ 4y agoIt already has, multiple aluminium smelters have suspended operations for the winter. Other companies affected are e.g. bakeries and a food cannery, which will affect prices of basic foodstuffs - which are already up due to various factors, including the Russian invasion. Bird flu is also a thing, causing chicken and egg prices to soar.
- euroderf 4y ago"Welcome to Bauxite Island"
- badpun 4y agoThese are the month-ahead contracts prices. The day ahead are at around 10% of that (the gas is almost free, compared to what it costed just couple months ago). It's probably just temporary curiosity though.