Impact of rising energy prices on industry - DGE Themes No. 13, September 2023
Creators
- 1. Service de la competitivite, de l'innovation et du developpement des entreprises - SCIDE, DGE, 61, bd Vincent Auriol, 75703 Paris Cedex 13 (France)
Description
The outbreak of war in Ukraine led to an acceleration in gas and electricity prices, which could lead to a tripling of industrial companies' energy bills in 2023 compared to 2021. However, trends observed in the second half of 2022 and early 2023 suggest that companies have demonstrated a strong capacity for adaptation and resilience. In particular, they have passed on the shock in their sales prices, while maintaining stable production and high margins. However, some companies were forced to cut back on production, particularly in some energy-intensive sectors (metallurgy, paper/board, chemicals, non-metallic mineral products). To support the companies hardest hit by the energy crisis, some 25 billion euros in public aid were deployed. This aid took the form of transverse and automatic measures (reduction of the domestic tax on final electricity consumption, electricity tariff shield, guaranteed electricity prices, electricity price damper) and a counter for those most exposed to rising energy prices, in particular industrial companies
Abstract (French)
Le declenchement de la guerre en Ukraine a conduit a une acceleration des prix du gaz et de l'electricite, qui pourrait conduire au triplement de la facture energetique des entreprises industrielles en 2023 par rapport a 2021. Les evolutions observees au second semestre 2022 et debut 2023 suggerent toutefois que les entreprises ont fait preuve d'une forte capacite d'adaptation et de resilience. Elles ont notamment repercute le choc dans leurs prix de vente, tout en maintenant une production stable et des niveaux de marge eleves. Certaines entreprises ont cependant pu etre contraintes de reduire leur production, particulierement dans quelques secteurs fortement consommateurs d'energie (metallurgie, papier/carton, chimie, fabrication de produits mineraux non metalliques). Afin de soutenir les entreprises les plus touchees par la crise energetique, environ 25 milliards d'euros d'aides publiques ont ete deployes. Ces aides ont pris la forme de mesures transversales et automatiques (baisse de la taxe interieure sur la consommation finale d'electricite, bouclier tarifaire electricite, prix garanti electricite, amortisseur electricite) et d'un guichet cible sur les plus exposees a la hausse des prix de l'energie, notamment les entreprises industrielles
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Additional details
Additional titles
- Original title (French)
- Quelle incidence de la hausse des prix de l'energie sur l'industrie? - Les Themas de la DGE No. 13, Septembre 2023
Publishing Information
- Imprint Pagination
- 11 p.
- Report number
- INIS-FR--24-0339
INIS
- Country of Publication
- France
- Country of Input or Organization
- France
- INIS RN
- 55024159
- Subject category
- S29: ENERGY PLANNING, POLICY AND ECONOMY; S24: POWER TRANSMISSION AND DISTRIBUTION; S03: NATURAL GAS;
- Descriptors DEI
- COMPETITION; CONTRACT MANAGEMENT; ECONOMIC IMPACT; ELECTRIC UTILITIES; ELECTRICITY; ENERGY CONSUMPTION; GAS UTILITIES; INDUSTRY; MANUFACTURERS; NATURAL GAS; PRODUCTION; PROFITS; RETAIL PRICES; RISK ASSESSMENT; SALES; SECTORAL ANALYSIS; SOCIO-ECONOMIC FACTORS; TAX CREDITS
- Descriptors DEC
- ENERGY SOURCES; FINANCIAL INCENTIVES; FLUIDS; FOSSIL FUELS; FUEL GAS; FUELS; GAS FUELS; GASES; INSTITUTIONAL FACTORS; MANAGEMENT; PRICES; PROGRAM MANAGEMENT; PUBLIC UTILITIES
Optional Information
- Notes
- Available from the INIS Liaison Officer for France, see the INIS website for current contact and E-mail addresses