Ann: Press Release Record 2018 NPAT A$184.7 MILLION, page-85

Ukraine has over 2million ferroalloy capacity. Electricity prices, if it moves closer to what the rest of europe is paying will be closer to 10 usd cents per kwh. A far cry from its former 4 usd cents per kwh.

if this happens, all the ferroalloy capacity will become obsolete. Unlike China, Ukraine does not subsidize its ferroalloy industry, it does not have the funds to subsidize it.

former subsidies for electricity took up 8% of gdp and also resulted in collapsing electricity infrastrucure due to lack of investment.