Gas shortage would trigger a domino effect in industry

Berlin A survey of hot-dip galvanizers in Germany sums up the entire drama of the energy crisis: According to this, almost a third of the companies that weatherproof steel in zinc baths will have their gas contracts expire by the end of the year. At 50 percent, the contracts end in the coming year. 40 percent expect gas prices to increase fivefold, 50 percent expect them to triple or quadruple. The rest even fear a tenfold increase. The situation is similar with electricity contracts.

The hot-dip galvanizers are therefore representative of energy-intensive industries: Many companies are worried about a possible gas shortage or power failures. There is a risk of supply disruptions or price jumps that could make electricity and gas unaffordable – and in the end, many companies fear, an energy domino effect that could paralyze entire industries.