Norwegian state budget for 2024 and impacts on Elkem
On 6 October, the Norwegian government presented its state budget proposal for 2024. The proposal contains elements potentially affecting Elkem's activities in Norway.CO2 compensation is a government scheme provided to avoid carbon leakage, i.e. where European industry is shut down and moved to countries without CO2 emissions tariffs, causing increased global emissions as well as the loss of green industrial jobs. This applies to Elkem in Norway as compensation for CO2 costs included in the pricing of the CO2-free renewable power used in Elkem’s Norwegian production of silicon and