Experts Warn: Industrial Production in Germany Will Stop due to Energy Crisis

The Federation of German Chambers of Industry and Commerce warned against stopping production in companies as a result of the energy crisis.

The head of the federation, Peter Adrian, said, according to the German news agency, that the level of all sectors is deteriorating, as the federation receives calls for help daily from companies that have not obtained a contract to supply energy for the next year.

Adrian added, "If a solution to the energy crisis is not found, parts of our economy will stop early next year," and he called on the German government to take measures to prevent that.

According to Adrian, many energy suppliers can no longer pay the guarantee deposits that they had to deposit in their future transactions to hedge against energy price fluctuations.

He explained that those guarantees have risen to astronomical levels similar to stock prices, to the point that municipal utilities and other suppliers can no longer offer offers to their customers For electricity and gas supply.