Europe’s energy crisis: Soaring electricity prices put strain on cement factory

Company directors at Spain’s largest cement factory on the outskirts of Madrid are considering shutting down production as electricity prices surge across Europe. Luis Herrers, Cementos Portland’s operations director said “Because the cost of electricity has shot up 300 per cent, and above all, we have crossed a red line, which is that our production cost has exceeded our selling price, so we are in a critical situation right now.”