German steel association WV Stahl President Hans Jürgen Kerkhoff said “The planned capping of electricity and gas prices would be an important first step towards bridging the acute crisis for the steel industry and the steel-based value chains based on it. However, the implementation of this measure for energy-intensive industries such as the steel industry is massively thwarted by the EU Commission's state aid requirements. Therefore, the European crisis state aid framework urgently needs to be revised and on this basis the laws on electricity and gas price brakes should be tackled again. The aim must be to preserve energy-intensive industries and industrial value and supply chains and to avert lasting damage to the industrial base.” The energy price brakes adopted by the Bundestag would still have to be approved by the Bundesrat for them to come into force.
German steel association WV Stahl President Hans Jürgen Kerkhoff said “The planned capping of electricity and gas prices would be an important first step towards bridging the acute crisis for the steel industry and the steel-based value chains based on it. However, the implementation of this measure for energy-intensive industries such as the steel industry is massively thwarted by the EU Commission's state aid requirements. Therefore, the European crisis state aid framework urgently needs to be revised and on this basis the laws on electricity and gas price brakes should be tackled again. The aim must be to preserve energy-intensive industries and industrial value and supply chains and to avert lasting damage to the industrial base.” The energy price brakes adopted by the Bundestag would still have to be approved by the Bundesrat for them to come into force.
