Europe's energy crunch is forcing UK factories to shut down

Scorching hot prices on gas and power in Europe are impacting many continental businesses and putting "inflationary pressure on every other cost", even leading some UK factories to halt operations to avoid being slapped with incapacitating utility bills.

Photo: Alexandra Beier/Reuters/Ritzau Scanpix

Europe’s energy crunch has forced a major fertilizer maker to shut down two UK plants, the first sign that a record rally in gas and power prices is threatening to slow the region’s economic recovery.

CF Industries Holdings Inc. said Wednesday it’s halting operations at its Billingham and Ince manufacturing complexes due to high natural gas prices, with no estimate for when production will resume. European gas and power futures tumbled Thursday on signs energy-intensive industries are curbing consumption. 

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