Cheap power is what makes OM Sarawak one of the worlds most profitable smelters.
Those who think otherwise are fools and have absolutely no idea.
As smelters around the world start closing down, then OM Sarawak will become a major player.
____________________________________________________________________ Huge costs
OFZ metallurgical plant in Široká is one of the stable and largest employers in Orava, it has been operating here for more than 60 years. It currently has almost 500 employees. Until recently, was in vain looking for workers on the Slovak labor market, so began to employ Ukrainians. Now the situation has turned around.
"Cheap steel imports from Asia and high energy prices related to emission allowances have forced us to shut down one of the six furnaces," said Executive Director Branislav Klocok.
"We haven't fired yet because we had a lot of people, but if we were forced to shut down the second furnace, it would bring negative measures, ending contracts with external workers, with temporary employees," Klocok said.
He pointed out that some European countries, France, Germany, Spain, were able to compensate at least partially for expensive energy, and Slovakia is not doing well. The price of electricity accounts for 30 to 40 percent of OFZ's costs. "The output of one unit of a nuclear power plant is 400 MW, OFZ needs 110 MW, which is similar to that of a city with 300 to 400,000 inhabitants."
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The big problem for OFZ is that the new nuclear reactors that were planned for Slovakia have been delayed.
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"Slovakian officials have announced a delay of their plans to expand Mochovce nuclear power plant and accused Vienna of trying to meddle with Bratislava's "sovereignty" on Monday. "
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The UN wants everybody in the EU to switch to renewable energy. (IDIOTS)
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" EU accession
mce-anchorUnder duress, as a precondition for Slovak entry into the European Union (EU) in 2004, the Slovak government committed to closing the Bohunice V1 units 1 and 2 due to perceived safety deficiencies in that early model reactor. The original date specified for closing them down was 2000, though subsequently 2006 and 2008 were agreed in relation to EU accessiong.
"
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What complete disaster, today power in Slovakia is starting to rank as the most expensive in the world. https://www.globalpetrolprices.com/Slovakia/electricity_prices/
The nail is already in the coffin as OFZ can no longer compete with power costs that are even more expensive than South Africa.
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" Austria's 'holy war' on nuclear plants
However, Kurz faced sharp criticism from his Slovak counterpart, Prime Minister Peter Pellegrini, over the issue. Pellegrini slammed Austria for "declaring a holy war" against all nuclear power plants in the region."
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So whats happening now? What will these idiots do?
Hand out money to try and cover the expensive renewable power.
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State will give companies €80 million on their energy bills
The new legislation on renewable energy sources introduces two fundamental novelties.
“We assume that the number of such companies in Slovakia would be up to 200,” said Economy Minister Žiga, as cited by the daily, adding that the contribution will be paid out retrospectively, and thus companies will apply next year for compensation for the previous year.
Currently, only four companies enjoy the tariff for operation of the system reduced to 95 percent - Duslo Šaľa, chemical company Fortischem in Nováky, producer of ferroalloys OFZ and Slovalco. After the revision is adopted, U.S. Steel Košice will also qualify for lower tariff for operation of the system.
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Maybe giuseppi should check out the price of Indonesian power and see where they stand in relation to South Africa another basket case. https://www.globalpetrolprices.com/Slovakia/electricity_prices/
The cheapest power in the world was Burma (Myanmar), problem is the power there has doubled in recent weeks.
_______________________________________________________________________ https://www.mmtimes.com/news/myanmar-electricity-rates-soar-next-month.html
The government of Myanmar has substantially increased electricity prices with immediate effect as it seeks to reduce its deficit -- electricity subsidies alone cost US$500 million a year -- and finance new power projects to end chronic blackouts.
OMH Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
