Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 15 October.

Germany’s electricity levy to fall in 2022, chem sector seeks abolition
Germany’s electricity price surcharge to help fund the transition to renewable energies will be 3.7 euro cent per kilowatt hour in 2022, down from 6.5 cent in 2021, the country’s electricity transmission systems operators announced on Friday.

France proposed plastic packaging ban risks higher-carbon substitutions – trade groups
Plans by the French government to ban plastic packaging for many perishable goods such risks pushing retailers to shift to higher-carbon alternatives, and does not leave sufficient time for alternative solutions to be brought to market, according to industry trade groups.

EU car registrations at 26-year September low as bottlenecks impact automotive
Passenger car registrations in the EU fell more than 23% in September year on year to hit the lowest number of cars registered in that month since 1995, as bottlenecks continue to impact the industry, trade group the ACEA said on Friday.

Shortage of flame retardant TCPP triggers turmoil for Europe prices
A shortage of flame retardants commonly used in mattresses, such as TCPP, has led to surging prices in Europe, according to market players in the polyurethane (PU) foam industry.

World leaders must tell investors fossil fuels may lead to losses – IEA chief

Policymakers must conclude the COP26 summit next month by giving investors “unmistakable signals” that investments in fossil fuels could lead to losses, the head of the International Energy Agency (IEA) said on Wednesday.

Petrochemicals to capture more than 50% of crude demand by 2050 – IEA
Electrification of transport, industry and residential heating will leave the petrochemicals sector as the main consumer of crude oil by 2050, capturing 55% of demand for the fossil fuel, the International Energy Agency (IEA) said on Wednesday.

Europe logistics disruption continues to bite for chemicals players
Logistics issues in Europe are continuing to bite for chemicals players, with driver shortages and port congestion straining already tight supply lines, although buyers may be starting to adapt to longer lead times for orders, according to sources.

Germany’s Covestro heads EU project to research recycling of PU foams
Covestro is leading an EU-wide project to research chemical recycling for polyurethane (PU) foams, the German chemicals major said on Monday.