As everybody is witnessing, the war in Ukraine, among other factors, has been driving record price increases. According to Destatis^*, this has resulted in imported energy prices increasing by 130%, while nationally produced energy is 68% more expensive. For high energy consumers like the chemical industry – where energy cost often represents over 20% of the total cost of goods sold (COGS) – this price increase has been putting pressure on margins. In some cases, this has reached the point where production is no longer profitable.