BRUSSELS - Textile and clothing industry body Euratex has called for a single strategy from the European Union (EU) to tackle the energy crisis and safeguard the future of the industry.
Euratex is calling for support to stop companies going under and textile production being relocated outside of Europe, including a revision of the electricity price mechanism and an EU wide cap on gas prices at €80/MWh (US$80/MWh).
It says that severe global competition makes it impossible for the European textile and clothing industry to pass on unprecedented rises in gas and electricity prices to customers.
