Keneci Network (@keneci)

GREEN POLICY FAIL: Dutch Aluminium Company Aldel Halts Production Due To High Electricity Cost CEO Chris McNamee said its plant in Delfzijl, Netherlands, is winding down production and will halt operations from Monday until at least early 2022. "We've got a squeeze on us now because we're not hedged, and we're not hedged because the Dutch government isn't giving us visibility on a level playing field," McNamee said. "We just want the same conditions that the French and Germans have," he said, referring to a program that allows European countries to compensate energy-intensive industries for costs incurred as a result of higher European prices for CO2. Aldel, which draws up to 200MW of electricity when operating at maximum capacity, estimates that the cost of electricity alone is currently 4500 euros per ton of aluminium, while aluminium selling prices, which have also risen, are about 2500 euros per ton. Electricity costs usually make up to 40% of the cost of producing aluminium. Analysts say reckless and zealous left-wing green energy policies are the main driver behind surging power costs in Europe. Aldel, the Netherlands' only producer of primary aluminium, has capacity to produce 110,000 tonnes of primary aluminium and 50,000 tonnes of recycled aluminium annually. https://www.keneci.com/read-more-on-keneci-channels-newzbit#h.6mrubd6z0dxt