Missing solution for affordable industrial electricity prices

On March 14, 2023, the EU Commission presented its proposal for a reform of the electricity market design.  

"The EU Commission's plans do not offer industry a solution for internationally competitive electricity prices. However, an affordable electricity supply is a prerequisite for competitive production for the steel industry in Germany as an energy-intensive sector undergoing transformation. After all, only with affordable energy can the plants successfully shape their path to climate neutrality. We therefore need an industrial electricity price as quickly as possible. Work on this should now be given high priority," explains Dr. Martin Theuringer, Managing Director of the German Steel Federation.  

Despite falling energy costs, industrial companies still have to pay significantly more for electricity than their competitors outside and in some cases also within Europe. The transformation to climate-neutral steel production based on scrap-based electric steelmaking, electrification and electrolytically generated hydrogen is thus significantly jeopardized.