[SMM Stainless Steel Flash] EUROFER Urges Immediate Action on Energy Costs, Targeting ~$58/MWh

Published: Mar 25, 2026 23:14

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The European Council's recent conclusions acknowledging the critical need for affordable energy represent a positive step, but immediate and effective implementation is crucial for the sector's survival. Director General Axel Eggert warned that the ongoing Middle East crisis has heavily exposed the industry's vulnerability to fossil-fuel-driven price spikes, emphasizing that without securing competitive electricity costs of around $58/MWh (€50/MWh), energy-intensive sectors will fail to compete globally or achieve their decarbonization targets. EUROFER is urgently calling for the acceleration of renewable energy adoption, the wider use of long-term instruments like PPAs, and critical reforms to the EU electricity market design to fully decouple power prices from fossil fuels.

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