📑EUROFER:

➡️ supports a full review of short-term electricity markets by June 2026, as required under EU law
➡️ urgently calls for concrete measures to restore competitive electricity prices for European industry, building on the recommendations of the Draghi report.

🧵🔚

Europe cannot drive the green transition forward with structurally uncompetitive electricity prices.

🧵⬇️

📈 𝐓𝐡𝐢𝐬 𝐢𝐧𝐟𝐥𝐚𝐭𝐞𝐬 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐩𝐨𝐰𝐞𝐫 𝐛𝐢𝐥𝐥𝐬 &, 𝐟𝐨𝐫 𝐬𝐭𝐞𝐞𝐥𝐦𝐚𝐤𝐞𝐫𝐬, 𝐢𝐬 𝐜𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐚 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞𝐧𝐞𝐬𝐬 𝐞𝐦𝐞𝐫𝐠𝐞𝐧𝐜𝐲. 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐢𝐭𝐲 𝐩𝐫𝐢𝐜𝐞𝐬 𝐫𝐞𝐦𝐚𝐢𝐧 𝐮𝐩 𝐭𝐨 2.5 𝐭𝐢𝐦𝐞𝐬 𝐡𝐢𝐠𝐡𝐞𝐫 𝐭𝐡𝐚𝐧 𝐭𝐡𝐨𝐬𝐞 𝐨𝐟 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐨𝐫𝐬, 𝐝𝐞𝐥𝐚𝐲𝐢𝐧𝐠 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 & 𝐩𝐮𝐭𝐭𝐢𝐧𝐠 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐭 𝐫𝐢𝐬𝐤.

🧵⬇️

In simple terms, even if nine out of ten power plants rely on low-cost renewables, the single fossil-fuel plant needed to meet demand can determine the price for all electricity.

🧵⬇️

Under current EU rules, electricity prices are often set by the most expensive source in the system - typically gas - even when renewable power generates for the majority of hours and at a much lower cost.

🧵⬇️

Persistently high and volatile electricity prices, further inflated by high taxes and carbon costs, have become one of the largest obstacles to investment, electrification and decarbonisation in Europe’s steel industry.

🗞️👉 www.eurofer.eu/press-releas...

@eurofer-eu.bsky.social backed a call to action adopted by European companies & industries in Antwerp yesterday, which includes a demand on the EU to take urgent action to bring electricity prices down as a condition for 🇪🇺’s industrial drive, competitiveness & economic resilience.

They joined over 500 industry leaders, the President of the @ec.europa.eu @vonderleyen.ec.europa.eu and several EU Heads of States.

👉 Read the Antwerp Call to Action here: antwerp-declaration.eu/the-antwerp-...

EUROFER was also represented in Antwerp by its President Henrik Adam, @tatasteelnederland.com, two of its vice-presidents, Geert Van Poelvoorde, ArcelorMittal Europe, and Mario Arvedi Caldonazzo, Acciaieria Arvedi, and our DG Axel Eggert, among other representatives of the European steel industry.

Now is the moment for the EU and its Member States to turn ambition into delivery.

Because without a strong and thriving European steel industry, there is no resilience, no competitiveness and no sovereignty.

In line with the joint industry Call to Action adopted today, Europe’s steel industry is calling for bold and urgent action in three areas:

🔸 Bring energy costs down
🔸Support fair global trade and improved access to finance
🔸Be proud to buy products made in Europe

🚶‍➡️Next steps: the @inta.europarl.europa.eu expressed broad support for the measure and agreed to launch EU trilogue negotiations

Getting these elements right is essential for #steel to continue playing its role as a strategic foundation industry for 🇪🇺 - supporting value chains, jobs & the transition

💡Key results of the voting include:

1️⃣No carry-over of unused quotas.
2️⃣Stronger “melted and poured” rules.
3️⃣A swift scope review within six months, allowing for the possible inclusion of additional steel derivatives & products.

Check out the full INTA Committee agenda: www.europarl.europa.eu/doceo/docume...

2. Global overcapacity and its impact on the EU steel market, Tuesday, 27 January, 9am CET

▶️ Watch live: multimedia.europarl.europa.eu/en/webstream...

This debate feeds directly into the next steps on EU trade defence, as the EU prepares to replace current steel safeguards.