Gas is still rising, closing at EUR 241 per megawatt hour (+ 6%).  Industries increasingly in trouble

Gas is still rising, closing at EUR 241 per megawatt hour (+ 6%). Industries increasingly in trouble

Closing at historic highs for the gas, traded in Amsterdam, the reference market for Europe, a 241 euros per megawatt hour, up to 6% compared to yesterday. It is a higher piece than that touched in the days immediately after the invasion of Ukraine, e.g 11 times higher to what normally occurs at this time of year. In addition to the reduction in Russian supplies, the prices are also to be pushed down climate crisis and drought. Little water means trouble for all kinds of power plants and the inability to transport coal used by power plants along rivers such as the Rhine, increasing the need for a continuous supply of gas.

Algeria, more money for everyone.  Increases in pensions, salaries and subsidies announced thanks to super gas collections

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Algeria, more money for everyone. Increases in pensions, salaries and subsidies announced thanks to super gas collections

All this while European countries try to fill up the storage slots for the winter season as much as possible. Energy costs are becoming especially unsustainable so-called energy-intensive companies. In the past few days, the shutdown of some large plants has been announced. The Belgian group Nyrstar from September it will stop its foundry in zinc in Belgium, the largest in Europe. The Norwegian Norsk Hydro plans to stop one aluminum foundry in Slovakia. Meanwhile, Moscow expects a 38 percent increase in revenues guaranteed by exports of gas and oil in 2022 thanks to record prices, according to a document from the Russian Economy Ministry.

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