Christian Democratic Union of Germany Deputy Chair & member of the German government’s Deutscher Bundestag’s economic affairs committee Mr Jens Spahn visited Swiss Steel's Deutsche Edelstahlwerke in Witten to learn more about the current situation in the steel industry. Deutsche Edelstahlwerke CEO Mr Frank Koch explained that the EAF technology used by Swiss Steel Group to produce environmentally friendly steel as compared to conventional blast furnace and asked Mr Spahn to advocate for a secure energy supply at affordable prices and to guarantee the equal treatment of environmentally friendly electrical steel production in the distribution of subsidies. Mr Spahn said “We need relief this fall, also for industry, to be able to absorb the challenges associated with the supply of energy once winter sets in. The German government must therefore make decisions as soon as possible. We cannot afford to continue to wait.” From January 2021 to January 2022, the prices on the natural gas spot market rose by 300%. The situation is no better for electricity. Electrical steel producers are doing everything in their power to lower energy consumption, specifically their use of natural gas. Research and development projects are currently underway in the DEW plants, but require major investments. The energy situation in Germany is becoming more and more critical, and prices for gas and electricity continue to rise. New relief packages are constantly being discussed for consumers.
Christian Democratic Union of Germany Deputy Chair & member of the German government’s Deutscher Bundestag’s economic affairs committee Mr Jens Spahn visited Swiss Steel's Deutsche Edelstahlwerke in Witten to learn more about the current situation in the steel industry. Deutsche Edelstahlwerke CEO Mr Frank Koch explained that the EAF technology used by Swiss Steel Group to produce environmentally friendly steel as compared to conventional blast furnace and asked Mr Spahn to advocate for a secure energy supply at affordable prices and to guarantee the equal treatment of environmentally friendly electrical steel production in the distribution of subsidies. Mr Spahn said “We need relief this fall, also for industry, to be able to absorb the challenges associated with the supply of energy once winter sets in. The German government must therefore make decisions as soon as possible. We cannot afford to continue to wait.” From January 2021 to January 2022, the prices on the natural gas spot market rose by 300%. The situation is no better for electricity. Electrical steel producers are doing everything in their power to lower energy consumption, specifically their use of natural gas. Research and development projects are currently underway in the DEW plants, but require major investments. The energy situation in Germany is becoming more and more critical, and prices for gas and electricity continue to rise. New relief packages are constantly being discussed for consumers.
