ZURICH – Swiss metal mill Stahl Gerlafingen has gained regulatory approval to place workers on shorter working hours to deal with hovering power payments that may value in a month what they usually value in a yr, the NZZ am Sonntag paper reported.
“Excessive power costs threaten our existence,” the paper quoted Chief Govt Alain Creteur as saying of the mill owned by Italy’s Beltrame Group.
“It could be that nobody has to go on short-time work. But it surely is also that we've got to ship a part of the workforce or all 560 workers dwelling.”
Nobody was obtainable on the firm on Sunday to touch upon the report, which highlights the influence of the power disaster sparked by Russia’s invasion of Ukraine.
The Swiss authorities final week launched a voluntary marketing campaign to induce customers and companies to preserve power as looming winter shortages elevate the potential of rationing in a worst-case state of affairs.
The NZZ stated a nationwide stress check was deliberate this month to look at how giant customers would reply to energy rationing.
Monika Ruehl, head of enterprise foyer Economiesuisse, final week cited estimates from the civil defence workplace that weeks-long power shortages may ship a possible Swiss financial hit of greater than 100 billion Swiss francs ($102 billion).
($1 = 0.9804 Swiss francs)
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