EU faces electricity price dilemma - Chemical industry among the most affected with factory closures
As European Union leaders consider new ideas to address the demands of energy-intensive industries, new proposals to lower electricity prices will be on the negotiating table at the next European Council.
Industries such as steel, cement and chemicals have long complained about the high electricity prices they face, which have forced the closure of hundreds of production sites across the EU.
Chemical industry leaders in Europe say 101 industrial facilities have closed since February 2024, leading to the loss of 75,000 jobs and the disappearance of 25 million tons of chemical production capacity.
With electricity prices in the EU now twice as high as those in the United States, European Commission President Ursula von der Leyen and Council President António Costa have publicly highlighted industry concerns, as the EU27 is examining ways to revive industrial capacity and strengthen the bloc's competitiveness.
To address the urgency of price reduction and reindustrialization, Brussels will discuss in March whether the current pricing system, in which electricity prices are linked to gas prices, should be revised.
Spain and Portugal have been strong advocates of reforming the design of the electricity market for several years, mainly to increase connectivity between the Iberian Peninsula and the rest of Europe and to address unfair competition.
Following the energy crisis that hit the EU following Russia's invasion of Ukraine in 2022, EU leaders decided to review the law regulating electricity prices.
Lagarde, resigning before the end of Macron's mandate? - Exclusive news from the Financial Times. She denies the ECB
European Central Bank President Christine Lagarde plans to step down before next year's French presidential election to give President Emmanuel Macron a say......
EU must prepare for worsening weather - Economic damage to infrastructure estimated at 45 billion euros per year
The European Union is unprepared for worsening climate change and must urgently increase its investments to protect people and infrastructure from increasing......
EU, fee for packages from Shein and Temu - Decision, how much will buyers pay from July 1, 2026?
The European Council has approved the measure for small parcels from platforms such as Shein and Temu, giving the "green light" to the introduction of a fee......
Corridor VIII, NATO's security axis/ From freight transport to troop movement. Strengthens the Alliance's southeastern flank
Not only for the movement of goods and passengers, but also of military troops. Corridor VIII is also a NATO security corridor. During the Ministerial held a......
Why is food more expensive in Albania? - Analysis/ Reasons why the depreciation of the euro is not reflected in prices
Imported products in Albania often cost more than in their countries of origin. This is also noticeable when the euro depreciates, as has happened in recent......
Salla: New cooperation model with six municipalities for the protection of chestnut groves
The Minister of Agriculture and Rural Development, Andis Salla, signed today cooperation agreements with the municipalities of Shkodër, Tropojë, Malësi e......
General Directorate of Customs: Over 7500 kg of flour beyond the expiration date is blocked!
The Durrës Customs Branch announces that during a physical inspection of the premises of a commercial entity, authorized to use the Inward Processing Regime,......
"Diella will go to another level" - Rama introduces the new head of AKSHI, promises salary increases for employees
Prime Minister Edi Rama introduced Igli Tafa as the new head of the National Agency for the Information Society. In his speech, the Prime Minister praised......
