Gas over 300 euros / Mwh.  Abi: "Very serious financial earthquake".  Confcommercio: "120 thousand companies at risk"

Gas over 300 euros / Mwh. Abi: “Very serious financial earthquake”. Confcommercio: “120 thousand companies at risk”

Concern is growing day by day, with prices now steadily above 300 euros / Mwh in Amsterdam.

Abi he states that “a very serious financial earthquake is underway because the price of gas is continually multiplying, which soon risks creating a serious explosion in costs for companies, with the consequent risk of a spiral of corporate, and therefore financial and employment, crises. This earthquake must be dealt with as soon as possible, “Antonio Patuelli, president of the Italian banking association, said in an interview with Qn. “The initiatives of the institutions of the Republic were very important to differentiate Italy’s energy supplies. But something else is needed, with absolute urgency and emergency” he explains. It is a question of “first of all adopting fiscal measures, but not only, such as tax credits and other fiscal or non-fiscal provisions. It is not possible to wait for the establishment of the new Chambers in mid-October nor for the subsequent procedures for the formation and arrival of the new government “. The Constitution “provides that in extraordinary cases of necessity and urgency the Government adopts decree-laws”. If the companies fail, “the integration funds would fall back on the country system – he underlines -. A collapse which then” would fall on the banking world “.

Confcommercio estimates that the continuous rush of energy increases and inflation close to 8% – almost 80% due precisely to the surge in energy commodity prices – will put at risk between now and around the first six months of 2023 120 thousand companies in the service sector and 370 thousand jobs. The sectors most exposed are the retail trade – in particular the medium and large-scale food distribution which in July saw electricity and gas bills quintuple – catering and hotels with triple increases compared to July 2021, transport which in addition to expensive fuels (+ 30-35% from the beginning of the pandemic to today) are now having to stop the methane gas vehicles due to the increase in raw material prices. But to be heavily affected by this situation – Confcommercio points out – are also freelancers, travel agencies, artistic and sports activities, support services to businesses and the clothing sector which, after a marginally favorable sales season, today it has to endure substantial increases. Overall, spending on energy for the tertiary sectors in 2022 will amount to 33 billion, triple compared to 2021 (11 billion) and more than double compared to 2019 (14.9 billion). “A scenario – concludes the note from Confcommercio – which arouses great concern and which, in the absence of specific interventions and new support measures, risks – also in light of the further restrictions in the supply of gas announced by Russia – of increasing the number of companies which could go out of business and cause a sharp slowdown in the economy in the second half of the year “.

Confindustria Ceramics speaks of a “disastrous” situation. President Giovanni Savorani, contacted by Adnkronos, asks the Government, in addition to insisting on a price ceiling at European level, to intervene urgently by reactivating the extraction of gas from national fields still exploitable and to protect manufacturing companies with financial measures. “As a country we risk throwing away a big chunk of Made in Italy”. There are over 260 companies active in Italy in the ceramic sector, with more than 26 thousand employees and a turnover of 7.5 billion euros. “Almost all the companies in the sector are delaying the ignition of the ovens waiting for no one knows what,” he explains. At the end of July “we went on vacation with the price of gas at 1.80 euros per cubic meter and at the end of August it was 2.95 euros”. The order book of the companies in the sector is “still discrete, but how are we going to price and produce? The cost of gas is exceeding revenues”. Many companies therefore risk not resuming production after the summer. Or to present itself on international markets at uncompetitive prices. “For us the problem is exports – continues Savorani – we are exporters for 85% of our production. For some producing countries the problem of the price of gas does not exist and we risk losing the fifty years’ work done for conquer international markets “.

Assica (Industrial Association of Meat and Cured Meats, member of Confindustria) says that “the situation is truly dramatic”, because “July bills have seen amounts up to six times higher than in the same month of the previous year and the situation in international markets it does not seem destined to improve. It is a matter of millions of euros of difference on the annual financial statements of the companies and a real risk of closures with strong losses “. President Ruggero Lenti says that “we are aware that increases in the prices of finished products can depress consumption, especially in this historical phase characterized by rapidly growing inflation, but a more equitable redistribution of the value of products within the supply chain, which ends with distribution. We are calling out for the government to tackle this emergency with decision and for the Regions to intervene promptly in the areas where the most critical issues are encountered “, he continues, concluding:” It is not time to make election campaign proclamations, but the time has come to act promptly “.

Coldiretti stresses that the explosion in the cost of gas has a devastating impact on the pockets of citizens but also on the agri-food chain, from field to table, making it necessary to develop alternative forms of energy production. And it is precisely when the natural gas future on the Amsterdam stock exchange touched up its record that the notice was published with instructions for accessing the 1.5 billion envisaged by the agrisolare decree under the Pnrr. “The arrival of tenders for the installation of photovoltaic panels on the roofs of about 20 thousand stables and farms is important to contribute to the energy sovereignty of the country, with citizens and businesses in difficulty due to the increases triggered by the war in Ukraine”, says Coldiretti.

Fim Cisl he said that “the mad rush in gas and energy prices dictated by international tensions and anachronistic rules of price formation is radically conditioning the production landscape of the Italian metalworking industry to the post-holiday recovery”. After 18 months of sustained performance and among the best in Europe, explains Secretary General Roberto Benaglia, “it risks plunging into the blackest recession in a few weeks”. When the factories reopened these days, “many companies tell us not only unsustainable production costs, but above all the difficulty in planning the next production months in the face of total uncertainty”.

For Assoutenti “a black autumn is on the horizon with new increases in electricity and gas tariffs and further increases in prices”. To be at risk, says the president Furio Truzzi “are not only businesses but millions of families who in October will suffer on the one hand new increases in electricity and gas bills, on the other hand new increases in retail prices”. Because companies, in order to survive and sustain the higher energy costs borne by them, “will be forced to increase their price lists, throwing fuel on the flames of inflation which will rise further”. The situation will then worsen in October with the increase in tariffs and the beginning of the season in which energy consumption increases. For Truzzi, “an extremely dangerous situation that must be dealt with immediately, using the administered prices for electricity and gas in order to fight the fluctuations in energy prices and the speculations on the markets that risk bringing the Italian economy to its knees next autumn”.

The world of fashion will also be affected. Giulio Felloni, president of Federmoda Italy, said that “The strong concern comes from the not encouraging signals coming from our suppliers with an increase in prices of about 15% which will be difficult to sustain by the final consumer who will see, among other things, further reduced their spending power”. Just think that, as reported by Confcommercio, continues Felloni, “the increases in annual spending between July 2021 and July 2022 reached 122% for electricity and 154% for gas”. A situation that, he concludes, “cannot be resolved with a series of rainy interventions, but which requires a precise awareness and evaluation of the political forces as a whole”.

Anicav, the Association of vegetable canning companies, asks the Minister of Economic Development, Giancarlo Giorgetti, and the Minister of Agricultural, Food and Forestry Policies, Stefano Patuanelli, to double the tax credit and extend the terms of use with more favorable conditions (possibility of assigning the credit to the managers themselves and the cancellation or reduction of interest in the event of deferred payments), a suspension of the Ets mechanism to avoid further burdens for companies and a direct intervention on Arera for the revision of the cost of assignment of natural gas transport capacities which has a significant impact on the costs of highly seasonal companies such as those that process tomatoes. “This situation risks putting into question the continuation of the transformation campaign with companies which, failing to cope with the increases, will be forced to slow down production or even close their plants with important repercussions on employment and the agricultural world”, said the president of Anicav, Marco Serafini.

Assovetro notes that the Italian glass sector the market is still “extremely positive”, with orders growing in all segments. But, with energy costs increasing tenfold in two years, industry, one of the energy-intensive sectors par excellence, risks losing competitiveness on an international level and going out of business.

While Federterme writes in a note that “the political system, taken by a frantic and sudden electoral campaign, should make a very serious and urgent reflection on the tragedy that is looming in the coming months also for the thermal and tourist companies and push President Draghi to act with immediacy”. President Massimo Caputi adds: “We listen with great concern to a succession of proposals for therapies for ‘expensive energy’ after the elections, as if this matter could be an attractor of votes. But in the best of cases the new government, which in the interest of the country we hope it will be stable, it will not be operational before November and this time frame is not acceptable “.

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