Foment del Treball warns of industrial crisis in Spain due to energy costs

The Catalan business association Foment del Treball has called on the Spanish government to implement an immediate 'shock plan' to address soaring energy costs. The organization warns that rising gas and electricity prices threaten industrial competitiveness, production continuity, and employment, potentially leading to factory closures and permanent delocalization.

Geopolitical tensions in the Persian Gulf and Middle East have contributed to a 140% increase in the European TTF natural gas benchmark, rising from an average of 32.4 euros/MWh in February to 77.8 euros/MWh in September. Simultaneously, wholesale electricity prices in Spain reached 142.7 euros/MWh in September, more than doubling compared to the previous year.

The impact is particularly severe for energy-intensive sectors such as chemicals, textiles, and steel. The Spanish chemical industry alone has accumulated 354 million euros in excess energy costs as of August 31, comprising 215 million euros for gas and 139 million euros for electricity. Foment estimates these additional costs could approach 1 billion euros by the end of 2026 if current market conditions persist.