The cost of electricity remains one of the biggest barriers to investment and decarbonization in Europe. Politicians should bring electricity prices back to pre-energy crisis levels while implementing reforms to stabilize markets, the European Steel Producers Association (Eurofer) has said.
Persistently high electricity prices undermine investment and threaten the continent's industrial competitiveness, according to representatives of European steel producers. Callanish notes that they are putting this issue back at the top of the agenda as EU leaders prepare to meet on Thursday at an informal meeting in Olden—Bizen to discuss Europe's economic sustainability.
Steelmakers warn that without rapid emissions reductions, investments in low-emission steel production could shift outside Europe, potentially leading to permanent capacity losses across the bloc.
The so-called Antwerp Call, approved by major European industrialists ahead of the summit, calls on EU leaders to move from strategy to implementation through emergency industrial policy measures in 2026. They argue that high energy costs and carbon dioxide emissions, fragmented markets, and growing global competition are accelerating business closures and job losses across Europe.
Industry groups emphasize that Europe is increasingly seen as an uncompetitive destination for long-term industrial capital, while competitors in the United States and China pursue aggressive industrial policies.
At a retreat in Alden Bizen, EU leaders will discuss strengthening the Single Market and reducing strategic dependencies, topics closely related to maintaining domestic steel production capacity, which remain important for European manufacturing and construction supply chains.
The steelmakers say that the industry is not looking for protection from change, but from the conditions necessary for Europe's transition to a "green" economy and industrialization. Thus, the meeting is seen as a test of whether EU leaders can provide quick and tangible support to stabilize the European steel industry before further shifting production abroad.
The European Industrial Summit was held in Antwerp on Wednesday, at which the President of the European Commission, Ursula von der Leyen, called for the reinvestment of ETS revenues in industrial decarbonization, as well as for the elimination of bottlenecks in the EU energy system (see separate material).
Author: Elina Virchenko UAE
Kallanish.com
