Stock Market News

Italian manufacturers cut output to save energy, govt official says

2022.08.21 21:02

Italian manufacturers cut output to save energy, govt official says
Italian manufacturers cut output to save energy, govt official says

Energy-intensive industries in Italy are modifying their production to save energy as they struggle with soaring bills, a top official at the ecological transition ministry said on Sunday.

“There are entire industrial sectors, the glass and canning industry, where rationing, in the form of self-rationing, has already begun, albeit silently,” said Massimiliano Atelli, who heads the ministry’s committee that evaluates the environmental impact of new renewable energy plants.

“But this is not without costs, social costs… because the moment production slows down we should think about those who work in those industries,” he said, speaking at a conference.

Italy, which last year got nearly 40% of the gas it imported from Russia, has recently clinched deals with several alternative gas producing countries to reduce its dependence on Moscow. Half of the gas is burned to produce electricity.

These agreements have allowed Rome to fill its gas storage quickly, but have not been enough to protect its industries from sky-rocketing energy costs.

This has led entrepreneurs and politicians to criticise the government led by Prime Minister Mario Draghi which, unlike Germany, has so far said there is no need to impose state measures to ration gas.

Attending the same conference, a top official of Italy’s gas grid operator Snam said the country’s gas storage system would be 80% full in the next few days.

Source

Italian manufacturers cut output to save energy, govt official says

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 83,116.27 1.51%
ethereum
Ethereum (ETH) $ 1,891.88 2.65%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.30 4.39%
bnb
BNB (BNB) $ 601.55 2.21%
solana
Solana (SOL) $ 127.11 6.10%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.701501 6.85%
dogecoin
Dogecoin (DOGE) $ 0.168844 4.27%
tron
TRON (TRX) $ 0.213073 3.76%
staked-ether
Lido Staked Ether (STETH) $ 1,890.94 2.62%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,955.23 1.45%
pi-network
Pi Network (PI) $ 1.39 4.51%
leo-token
LEO Token (LEO) $ 9.79 0.76%
chainlink
Chainlink (LINK) $ 13.46 4.75%
the-open-network
Toncoin (TON) $ 3.43 0.20%
usds
USDS (USDS) $ 1.00 0.01%
stellar
Stellar (XLM) $ 0.265966 3.47%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,257.11 3.04%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 2.96%
hedera-hashgraph
Hedera (HBAR) $ 0.18382 5.01%
avalanche-2
Avalanche (AVAX) $ 18.35 3.33%
sui
Sui (SUI) $ 2.24 5.51%
litecoin
Litecoin (LTC) $ 90.31 3.03%
mantra-dao
MANTRA (OM) $ 6.83 3.24%
bitcoin-cash
Bitcoin Cash (BCH) $ 334.85 2.91%
polkadot
Polkadot (DOT) $ 4.31 1.28%
ethena-usde
Ethena USDe (USDE) $ 0.99992 0.02%
weth
WETH (WETH) $ 1,892.52 2.59%
bitget-token
Bitget Token (BGB) $ 4.36 2.22%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.02%
hyperliquid
Hyperliquid (HYPE) $ 13.22 8.14%
whitebit
WhiteBIT Coin (WBT) $ 28.46 1.62%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,005.29 2.86%
monero
Monero (XMR) $ 211.77 0.07%
uniswap
Uniswap (UNI) $ 6.13 1.52%
susds
sUSDS (SUSDS) $ 1.04 0.01%
dai
Dai (DAI) $ 0.999962 0.02%
aptos
Aptos (APT) $ 5.17 4.03%
near
NEAR Protocol (NEAR) $ 2.52 5.91%
okb
OKB (OKB) $ 48.89 4.90%
mantle
Mantle (MNT) $ 0.822839 10.02%
pepe
Pepe (PEPE) $ 0.000007 10.46%
internet-computer
Internet Computer (ICP) $ 5.59 4.19%
ethereum-classic
Ethereum Classic (ETC) $ 17.53 2.82%
gatechain-token
Gate (GT) $ 21.34 1.54%
ondo-finance
Ondo (ONDO) $ 0.821713 6.71%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,104.27 1.60%
aave
Aave (AAVE) $ 165.98 4.71%
tokenize-xchange
Tokenize Xchange (TKX) $ 29.88 1.67%