New power market, same old problems for metals

Producers are reluctant to invest in the new metals capacity needed to achieve Europe’s self-sufficiency goals because they can’t model power prices over the timeframe to build a new mine or smelter. — Reuters

EUROPEAN Union (EU) energy ministers last month struck a deal to reform the bloc’s power market.

The proposed changes to the EU’s “electricity market design” are a response to the spike in European power prices following Russia’s invasion of Ukraine in February 2022.