• 3 min de lectura
• 3 min de lectura
The Alliance for the Competitiveness of Spanish Industry has warned of the impact that the energy crisis stemming from the conflict in the Persian Gulf is having on local manufacturing activity and has called for the urgent adoption of measures to preserve business competitiveness, industrial investment, and employment. The impact, according to the entity, is close to 7.4 billion euros.
According to estimates prepared by the organization based on the evolution and futures of the TTF (gas) and OMIE (electricity) markets, the cost increase associated with rising gas prices would amount to approximately 4.22 billion euros, while the additional cost derived from electricity would reach 3.175 billion euros.
The Alliance points out that the situation has significantly deteriorated during July, August, and especially September, coinciding with the resurgence of tensions in international energy markets and a new escalation of gas and electricity prices stemming from the geopolitical situation. According to their calculations, 70% of the anticipated annual impact on industrial energy costs could be concentrated in the last quarter of the year alone.
“The Hormuz crisis did not originate the competitiveness problems of Spanish industry, but it has intensified difficulties we were already facing. The sharp increase in energy costs recorded in recent months demands an immediate and decisive response to maintain industrial activity, investment, and employment,” stated Carlos Reinoso, spokesperson for the Alliance for the Competitiveness of Spanish Industry.
Given this situation, the organization considers it necessary to adopt urgent and more far-reaching measures than those activated so far, considering that the price of gas has exceeded the €80/MWh threshold and the daily electricity market has registered an average close to €150/MWh so far in September (compared to €61/MWh in the same month last year).
“We are facing an exceptional situation that requires exceptional measures. Industry has demonstrated an enormous capacity for adaptation, but it can hardly absorb an energy impact of this magnitude on its own. It is necessary for public authorities to act urgently to prevent this cost deterioration from ultimately leading to a loss of production, investment, and employment,” added Carlos Reinoso.
The Alliance advocates for these actions to be approached from a constructive perspective and through public-private collaboration, with the aim of protecting industrial activity and strengthening Spain's competitive position at a time of high international uncertainty.
The entity recalled that Spanish industry operates in an environment of open international competition, and the Hormuz crisis has acted as a trigger for a situation that was already causing concern among the most energy-intensive industrial sectors.
Furthermore, the Alliance emphasized that the deterioration of energy costs coincides with signs of a slowdown in industrial activity in Spain, which reinforces the need to adopt measures that contribute to sustaining the country's productive capacity and business fabric.
