Síntesi dels oligonucleòtids cíclics

3.7.1 Natural gas

Not all of the plant sites provided figures on natural gas consumption level and costs. One plant did not consume any natural gas but used oil instead. In total, the descriptive statistics on natural gas prices are based on 14 to 20 out of the total respondents of 22. Based on the consumption and costs level provided, the respective natural gas prices were derived.

The following analysis focusses on natural gas prices and is therefore limited to purchased natural gas consumption and costs. Waste gases from steel production that

9 _{This refers to the number of questionnaires that made it through the verification process and were}

85 were used on-site, for example, to produce electricity in a cogeneration plant were therefore not taken into account.

General trends

As shown by the median in Table 20, the prices of natural gas paid by the responding steel producers were falling from 2012 to 2015, whereas they trended upwards between 2010 and 2012. In 2008, the median EU price of natural gas paid by a steel producer was 29.45 €/MWh, whereas in 2015 the price was 27.47 €/MWh, corresponding to a price decrease of nearly 7.0 %. The weighted average values show a similar evolution as the median prices but were slightly lower than the median prices at 28.57 €/MWh in 2008 and 26.11 €/MWh in 2015. When only respondents providing data for all years are included, the trend of decreasing median and weighted average prices from 2012 to 2015 is even more pronounced.

The relative standard deviation decreased from 19.3% in 2008 to 16% in 2010 and increased again to 21.4% in 2015. The inter-quartile range, i.e. the difference between the lower and upper quartile, which represents the middle half of the data, shows an irregular spread, reaching its maximum in 2008 at 14.16 €/MWh in 2008 and its minimum in 2015 at 6.00 €/MWh. The total range of prices has also been fluctuating significantly throughout all years as indicated by the whiskers of the box plot. In particular, the year 2012 and 2013 showed the largest spread with a price difference of 25.57 €/MWh and 23.43 €/MWh respectively between the highest and lowest paying operators.

Minimum prices paid by the responding companies started at 21.12 €/MWh in 2008, increased to 24.35 €/MWh in 2012. In 2015, the minimum price reached a level close to the 2008 values at 21.86 €/MWh.

Maximum prices for natural gas paid by steel plant sites show similar but stronger variations over the years. After a nearly constant level at approximately 36 €/MWh in 2008 and 2010, there was a large increase in 2012 with values up to 49.91 €/MWh, followed by a significant decline by almost 10 €/MWh in 2014, to 40.74 €/MWh. In contrast to the median and minimum values, the maximum prices clearly stayed above the 2008 price level, at 44.84 €/MWh.

Regional differences

A comparison between regions can only be provided for North-Western Europe and Central-Eastern Europe. Less than 3 responding plant sites in Southern Europe provided data on their natural gas costs and therefore no analysis on Southern European region could be provided. Figure 25 shows the weighted average for North- Western European and Central-Eastern European with paid prices being weighted with the total natural gas consumption of each plant.

The weighted averages of natural gas prices paid by responding steel plants in North- Western Europe peaked in 2012 at 34.04 €/MWh and decreased to 26.92 €/MWh in 2015 - a similar level as the price in 2008 (27.09 €/MWh). Responding Central- Eastern European plant sites had a more stable natural gas price ranging between

86 29.83 €/MWh in 2008 and 28.64 €/MWh in 2014. The analysis cannot be expanded to include 2015 as only one plant site from this region provided data for 2015.

Technological differences

Both BOF and EAF weighted average prices peaked in 2012. BOF plant sites faced a price of 31.52 €/MWh and EAF plant sites a price of 34.23 €/MWh. Both weighted averages decreased to 27.12 €/MWh and 25.52 €/MWh respectively in 2015. It is important to note that a reliable comparison between EAF and BOF plant sites is difficult as only 5 BOF plant sites, one of them including 3 plant sites though, participated in the study. No significant price differences between EAF and BOF plant sites was observed.

Figure 25. Prices of natural gas paid by responding EU producers, 2008-2015 (€/MWh)

Source: Authors’ own elaboration.

0 10 20 30 40 50 60 2008 2010 2012 2013 2014 2015 N a tur a l ga s p ri ce s (€ /MW h )

EU (boxplot) Central Eastern Europe (weighted average)

87

Table 20. Descriptive statistics for natural gas prices paid by responding EU producers

2008 2010 2012 2013 2014 2015

Plant sites/total sample 14/22 16/22 20/22 20/22 20/22 17/22

EU (weighted average) 28.57 26.89 33.16 31.38 28.71 26.11 EU (median) 29.45 26.33 31.19 31.32 30.04 27.47 EU (relative standard deviation) 19.3% 16.0% 17.9% 16.8% 16.7% 21.4% EU (IQR) 14.16 7.25 10.21 8.80 11.48 6.00 EU (minimum) 21.12 19.40 24.35 21.16 24.20 21.86 EU (maximum) 36.67 35.42 49.91 44.59 40.74 44.84

CEE EU (weighted average) 29.83 28.06 30.52 29.50 28.64 --

SE EU (weighted average) -- -- -- -- -- --

NWE EU (weighted average) 27.09 25.50 34.04 32.11 27.78 26.92

BOF (weighted average) 31.08 29.24 31.52 30.55 28.52 27.13

EAF (weighted average) 26.48 24.84 34.23 31.98 28.86 25.51

Source: Authors’ own elaboration.

3.7.2 Electricity

Except for the years 2008, 2010 and 2015, all responding plant sites provided data on electricity consumption levels and costs. Seven plant sites did not provide any data for the year 2008 and 4 plant sites are missing from the analysis for 2010 and 2015. Therefore, the descriptive statistics on electricity prices can be based on all responding 22 plant sites for half of the observed years. The respective electricity prices were derived from the consumption and costs level provided.

The analysis focusses on electricity prices and is therefore limited to purchased electricity consumption and costs. Self-produced electricity costs, revenues from self- produced electricity sold to the grid and/or remuneration from interruptibility schemes are not accounted for.

General trends

Total electricity prices paid by European steel plants fluctuated over time and peaked in 2012. In 2008, half of the steel plants paid less than 57.30 €/MWh, while in 2012, this median value reached 62.82 €/MWh. In 2014 and 2015, prices declined. The 2015 electricity price median of responding steel plant sites was 53.87 €/MWh (nearly 6% lower than the median in 2008). When using only respondents providing data for all years, the median and the weighted average price peak is reached in 2013 and not in 2012, while the trend of increasing and then decreasing median and weighted average prices between 2008 to 2015 is even more pronounced.

Absolute price spreads between respondents were highest in 2013 (80.16 €/MWh) and lowest in 2010, when the difference between minimum and maximum prices was 47.38 €/MWh. The difference between the first and the third quartiles was highest in 2008, namely 39.86 €/MWh.

Minimum prices paid by the responding plant sites started at 33.60 €/MWh in 2008, stabilize at a level of around 42 €/MWh between 2010 and 2013 and decreased again to approximately 33.50 €/MWh in 2014 and 2015. The values began to decline in 2014,

88 one year after the decline in the median value. In 2015, the minimum price reached a level close to, but lower than, the 2008 values, 32.42 €/MWh.

Maximum prices for electricity paid by steel companies showed larger differences than the minimum prices over the years. In 2008 to 2010 maximum prices remained stable at approximately 90 €/MWh, but increased significantly to 111.95 €/MWh in 2012. In 2013 they increased again by more than 10 €/MWh to 122.80 €/MWh. Subsequently, maximum prices decreased again by more than 20 €/MWh in 2014. In contrast to the median and minimum values, the maximum prices consistently stayed above the 2008 levels, at 101.73 €/MWh.

Regional differences

Figure 26 only includes a weighted average for North-Western European countries and Central-Eastern Europe. Southern Europe is again excluded due to an insufficient amount of observations (less than 3 single observations for each year). Electricity prices for each plant have been weighted by electricity consumption.

The weighted averages of electricity prices paid by steel plants in North-Western Europe are clearly below the median values of all responding European steel producers. In 2008, the average value was 50.47 €/MWh. Like the median prices of all respondents, the weighted average of the prices in North-Western Europe peaked in 2012 at 58.57 €/MWh and decreased again to 49.83 €/MWh by 2015 (1.3% lower than 2008 levels). Central-Eastern Europe in general observed higher electricity prices. This is also confirmed when only including plants that provided data for all years.

Technological differences

Both BOF and EAF average prices (weighted by electricity consumption) increased from 2008 to 2012/13, followed by a significant decline until 2015. The prices for BOF decreased from 72.86 €/MWh in 2013 to 52.12 €/MWh in 2015, a value lower than the 2008 levels (56.02 €/MWh). The prices for responding EAF plant sites peaked one year later in 2013 at 62.46 €/MWh and afterwards decreased to 53.55 €/MWh by 2015 (significantly lower than the 2008 price of 58.55 €/MWh). No significant price differences between EAF and BOF plant sites was observed.

89

Figure 26. Prices of electricity paid by responding EU producers, 2008-2015 (€/MWh)

Source: Authors’ own elaboration.

Table 21. Descriptive statistics for electricity prices paid by responding EU producers

2008 2010 2012 2013 2014 2015

Plant sites/total sample 15/22 18/22 22/22 22/22 22/22 18/22

EU (weighted average) 57.65 60.21 65.53 61.18 55.59 53.03 EU (median) 57.30 62.58 62.82 59.48 56.10 53.87 EU (relative standard deviation) 30.4% 21.4% 29.3% 34.5% 27.7% 33.0% EU (IQR) 39.86 21.90 36.34 30.50 17.73 22.59 EU (minimum) 33.60 42.17 41.24 42.63 33.63 33.42 EU (maximum) 92.27 89.55 111.95 122.80 100.43 101.73

CEE EU (weighted average) 84.75 72.43 86.58 70.16 68.80 --

SE EU (weighted average) -- -- -- -- -- --

NWE EU (weighted

average) 50.47 55.68 58.57 58.13 50.51 49.83

BOF (weighted average) 56.02 62.71 72.86 59.45 56.33 52.12

EAF (weighted average) 58.55 57.35 60.12 62.46 55.03 53.55

Source: Authors’ own elaboration.