The steel division of Germany's Thyssenkrupp, Europe's second-biggest steelmaker, is feeling the impact of the sharp rise in energy prices and welcomes a proposal this week by an expert panel to limit gas spending for industry, a senior executive said.
“The energy crisis has certainly hit us hard,” said Thyssenkrupp Steel Europe CEO Bernhard Osburg during the official opening of the new €250 million ($243 million) hot-dip galvanizing plant.
According to him, this site requires as much natural gas as a small town.
Osburg said that is why the company welcomes the commission's proposal to set a fixed gas price for industry at 7 euro cents per kilowatt-hour from 2023, which refers to 70% of consumption, with 2021 serving as a benchmark.
“This proposal must be implemented. It gives us the ability to plan for the security of the investment and the challenges ahead,” Osburg said.
