Galery

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In parallel, export is increasingly difficult because of many factors, especially the price of energy, despite the fact that Halivuorgiki’s factories have the most advanced technology in the world.

Because of the very high cost of energy (electricity and natural gas) for the steel industry, however, other advantages of the company are simply disappearing and it is becoming uncompetitive, especially outside Greece. According to market factors, as shown by a recent decision of the Court of Arbitration, delivery price may not exceed 25 to 30 euro/MWh for steel factories, the functioning of which is supporting the system and the continuous operation of lignite power plants in an environment of weak demand. Moreover, functioning in an environment of weak demand has significant additional costs which further burden companies, including higher costs for employees because of the 4- shift work regime, allowances for night work and holidays, preheating prices and high amortization.