Greek Textiles: Energy costs affect the industry

Eleftherios Kourtalis, President of the Association of Greek Textile Manufacturers, is sounding the alarm about the effects of high energy costs, especially for the Greek textile sector in the country.

As Mr. Kourtalis notes, before the crisis, the energy costs for the textile industry, a predominantly energy-intensive industry, accounted for 40% of the value added of the product and constituted a significant competitive disadvantage for the industries of the sector. Today, when energy costs have skyrocketed, the textile industry is being hit, more than any other industry, by the huge increase in electricity, and we point out that the blow it will inflict will be crucial in raising the issue of sustainability for all firms, which, it should be noted, are mostly export-oriented and extroverted.

“The energy crisis, which directly affects not only the competitiveness, but mainly the viability of the Greek textile industry, requires the immediate mobilization and effective measures by the State, as it is estimated that the crisis will last for a long time,” said the President of the Association.

Support measures

Therefore, he notes that industry players are calling on the government to take more effective support measures in the framework set by the EU and the financial coverage of most of the increases in the price of electricity. At the same time, the government intervention in the formation of prices in the wholesale electricity market is considered a necessary condition for the viability of the processing, following the example of other European countries.

“In this environment, the essential support measures for the industry are, as never before, necessary, in order not to proceed with a permanent cessation of its operation, an industry that contributes to the strengthening of the productive base of the country and the GDP growth “says Mr. Kourtalis.