European Industry Squeezed by Surging Power Prices

Record power prices in Europe are squeezing industry and analysts say there is more pain on the way as utilities pass through soaring costs of complying with new limits on greenhouse gas emissions.

Anglo-Dutch group Corus said on Wednesday it may shut a German aluminium plant because of high power costs, echoing threats by other producers and sounding alarm bells across the continent as experts said electricity prices have yet to peak.