EUROFER supports the Antwerp industry's call for urgent action on electricity prices

The European Steel Producers Association (EUROFER) has endorsed a joint industry call to action adopted in Antwerp, calling on the EU to take immediate action to reduce electricity prices as a precondition for Europe's industrial competitiveness and economic sustainability. In a statement issued in Antwerp on February 11 by 900 companies and 391 associations and unions, industry leaders called on the EU to take bold measures to reduce energy and carbon costs, saying that energy costs in Europe are simply too high to compete, driven not only by commodity prices but also regulatory fees.

According to EUROFER, persistently high and volatile electricity prices, compounded by increased taxes and carbon costs, have become a major barrier to investment, electrification and decarbonization in Europe's steel sector.

The demands of the steel sector to return to pre-crisis levels of electricity prices

EUROFER stated that the recovery of electricity prices closer to the levels before 2021 € 44/MWh, before the energy crisis, is essential to strengthen Europe's steel industry and protect industrial value chains.Henrik Adam, president of EUROFER and executive chairman of Tata Steel Netherlands, said that steel remains a central element of Europe's industrial strategy, but is being held back by "high prices and energy costs." He stressed that if the EU wants investments in low-carbon steel to remain in Europe, total energy costs should be close to