European metallurgists seek help from governments

European governments have begun announcing measures to lower the price of natural gas and electricity for industrial consumers.

Governments will provide an opportunity to normalize the situation in the industry, whose functioning is threatened by falling demand for steel products, unprecedented cost increase and low prices, as steelmakers expect.

Metallurgical companies in Italy are announcing the resumption of steel production due to some increase in apparent demand. They also rely on the last decree "Aiuti ter", which was passed by the previous government before the elections and resigned as a result.

The decree provides energy-intensive companies with tax credits to cover their energy costs in October and November. In order to obtain such a benefit, firms need to carry out production activities.

The provisions of the decree were not specified. But according to foreign sources, Italian industrialists hope the new government will see this and lower the cost of electricity.

In Germany, the government has pledged 65 billion euros to tackle the energy crisis. Authorities plan to seize these funds by confiscating super profits from energy companies that can generate electricity at a lower cost than gas power units. Authorities will also change the mechanism of the energy market so that natural gas prices do not affect the cost of electricity.

In this case, concrete decisions will be made later.