Georg Knill, leading figure of Austria’s industrial federation, warned that a tenfold surge in natural gas prices has driven many Austrian businesses toward a critical juncture, underscoring the need for substantial state support. He conveyed this message during a broadcast interview with Kronenzeitung, highlighting the severity of the situation faced by companies across the country.
According to Knill, the current landscape is more than dire. He described a situation where numerous firms have reached their breaking point, stressing that without decisive relief, the industrial sector may experience significant downsizing and even closures.
The Kronenzeitung report notes that the Austrian cabinet had previously promised enhanced support for manufacturers, but so far, those commitments have not materialized. Knill emphasized that, in the absence of timely aid, the country could confront higher unemployment and a wave of business closures that would reverberate through communities and supply chains.
Separately, authorities in Finland unveiled a loan and guarantee program designed to shield energy suppliers from financial strain, with a backing of up to 10 billion euros. The move is aimed at maintaining stability in the energy market as prices stay elevated and volatility persists.
In parallel, the Swedish government announced a liquidity support plan that would provide approximately SEK 250 billion to national energy companies. This package is intended to preserve financial resilience across the sector as energy costs remain high and market conditions stay tight.
Market data show that the average settlement price for gas across Europe rose sharply in September, marking a substantial increase from prior levels. The price surge pushed the benchmark past critical thresholds, reflecting ongoing tensions in regional energy supplies and the broader geostrategic factors influencing supply routes and pricing dynamics.
Analysts note that the energy crisis in Europe continues to unfold with uneven effects across member states. While some governments are rolling out liquidity supports and credit guarantees, the pace and scope of these measures vary, and industry groups in Austria have called for more concrete, expeditious actions to stabilize businesses and protect jobs. The situation underscores the interdependence of energy pricing, industrial competitiveness, and labor market outcomes in a region that relies heavily on imported energy and diversified energy‑mix strategies.