Via P Gosselin
The Green New Deal in Europe is rapidly turning into a House of Terror
A great location for all the final developments of the energy crisis in Germany and Europe is Blackout News here. Here are some of the more notable headlines from the past week:
Europe’s largest aluminum plant cuts output by 22% due to energy costs
Deindustrialization
Europe’s largest aluminum smelter, Aluminum Dunkerque Industries France, will cut production by 22% due to rising electricity prices, thus putting the industry’s existence at risk and increasing Europe’s dependence on suppliers. foreign level.
High energy prices: Urban utilities struggle to pay
Struggling gadgets
German municipal utility companies, who provide gas and electricity to their communities, are experiencing liquidity problems as gas and electricity suppliers demand large sums of money to secure security before delivery. About 200 of Germany’s 900 city infrastructure were affected.
The city’s utility companies also “have to account for customer debt payments on an unprecedented scale. In some cases, consumers are faced with price increases of over 50%, which many will not be able to cope with.”
Eight to 15% of consumers are expected to be insolvent.
That’s a serious danger signal because if they get stuck, an economic crisis is usually not far off.
Exploding energy costs: economists sound the alarm
Hostile business environment in Germany
The German economy is reeling from exploding energy costs as insolvencies escalate and even as large companies collapse. Some industrial companies have taken measures to stop production or drastically reduce production – because of soaring energy costs. BDI industry association president Siegfried Russwurm warned that rising energy prices are causing companies to flee.
In the latest BDI survey, 90% of all companies are facing serious challenges due to the sharp increase in the prices of energy and raw materials. In February 2022, the figure was only 23%.
France plans to lose power next winter
Severe electricity shortage in France
France normally generates 70% of its electricity from nuclear power plants, but the country’s electricity supply is at great risk as 24 of its 56 reactors are off-grid due to repairs and maintenance. The country is currently planning a complete power cut if there is a corresponding supply problem.
French utility company RTE reports “it is clear that the country will not be able to produce enough electricity during the winter months unless consumers drastically reduce their electricity consumption”. As a result, the utility is expected to experience intermittent power outages during the winter.
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If this continues, Europe could quickly turn into a continent of starving and freezing beggars. European Watch is looking at a new one Activation Act.
Willkommen and bienvenue! Welcome to the Green New Deal!
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