Prysmian wins €500m Alliander grid pact as Hormuz closure jolts energy markets - Mar 5, 2026

As of March 5, today’s news features developments involving Prysmian, particularly its newly secured framework agreement for supplying power cables to the Dutch electricity grid, amidst broader themes of geopolitical tensions affecting energy markets. Prysmian has been awarded a framework agreement from Alliander for the supply of medium and low-voltage power cables for the development and modernization of the Dutch electricity grid. The award covers an eight-year period and could be worth up to approximately 500 million euros, the company said in a statement. Prysmian was awarded this agreement to supply Alliander over this multi-year period as the Netherlands is expanding, reinforcing and future-proofing its electricity distribution network, while also integrating the adoption of renewable energy within the grid. Meanwhile, President Donald Trump is facing a major legal challenge to the fresh global tariffs he imposed on goods entering the US after the Supreme Court struck down his earlier sweeping duties last month. Attorneys general from New York and Oregon said today that a group of states are planning to file a lawsuit over Trump’s order placing a 10% tax on imports that took effect February 24. Turning to market updates, the ongoing U.S.-Iran conflict has begun to ripple across global energy markets, driving up fuel prices in the U.S. and impacting European natural gas costs. The closure of the Strait of Hormuz, a crucial maritime route for energy shipments, is causing significant disruptions in shipping operations, thus intensifying market volatility. In a macroeconomic context, the price of aluminum has shown slight declines after recent peaks raised by supply fears originating from the conflict in the Middle East. The global aluminum market is closely watching smelters in the region, which are crucial for supply stability. Analysts project potential price movements toward 4,000 dollars per metric ton under bullish scenarios, amid overall stabilization despite geopolitical strains. On the regulatory front, EU countries gave final approval to a new climate target aiming for a 90% reduction in greenhouse gas emissions by 2040, reinforcing the continent's commitment to its climate agenda even amidst political resistance from several member states. From the international front, President Trump signed a pledge with major tech companies at the White House, positioning them to cover the costs of new electricity generation needed to power their data centers. This initiative aims to prevent increases in electricity costs for consumers, though it raises questions about local community support for future data center projects.