Europe’s Industrial Firms Flash Warning on Energy Costs

Steelmakers, glass manufacturers and other energy-hungry businesses in Europe are calling on governments to take action to stop record gas and electricity prices from hobbling the region’s economy.

Prices for natural gas in Europe shot to all-time highs again this week after flows from Russia, the continent’s main supplier, dropped just as cold weather boosted demand and Électricité de France SA moved to turn off a nuclear-power plant for safety reasons. The moves made the continent the hottest gas market in the world, prompting ships carrying chilled U.S. gas to Asia to change course and head to Europe, where they could fetch more for their cargoes.

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