September 26, 2023

South Sudan News Agency

Complete English News World

Energy became too expensive, and an Italian factory closed

Production at a plant in Italy has been suspended for at least a month and a half due to rising energy costs, while the Association of Steel Manufacturers in Italy drew attention on Thursday to the risk of industrial paralysis.

Production at the Norwegian multinational Yarra fertilizer plant has been suspended for at least six to eight months. The factory in Ferrara employs 140 people: workers are currently employed, maintenance work is planned and they are receiving further training.

The company said the suspension was due to rising prices of natural gas used as a raw material, an increase of four hundred and forty percent since the beginning of last year. Production at the company’s other plant in Italy has not stopped.

The closure of other factories was predicted by the president of the Federation of Steel Manufacturers, a federation. Alessandro Bansato, He said that if prices continue to rise, it may be a matter of “days” to stop production at other plants, as he said, energy costs are not offset by the price of finished goods.

The Roman government has decided to provide emergency assistance of more than two billion euros amid a sharp rise in utility bills estimated to cost 30 million families and 6 million small businesses. Thanks to the intervention, the price of electricity has risen by only thirty percent compared to the previously announced forty, and natural gas tariffs have increased by almost fifteen percent. In fact, tariffs were already raised in the third quarter, and Roberto Singolani According to the so-called Minister of Environmental Change, another price hike from January will be inevitable. At the end of last quarter the population will face increased utility bills.

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About eighty percent of Italy’s natural gas supply comes from abroad: from Russia, as well as from Algeria and Norway. Gas pipeline supply with Libya has been disrupted due to the war situation in the country.

At the same time, the press calculated that the price of a full refueling would rise by an average of five to seven euros, and that rising energy prices would increase the price of grain. Analysts pointed out that the rise in prices was due to an increase in energy consumption from re-production at full power after a health emergency. Industrial over-production, for example, led to a shortage of microchip supplies in Italy.

In the summer, the Interior Ministry announced that it expects social tensions to intensify with frequent street protests as a result of the economic crisis caused by the epidemic.