Thomas Bünger, President of ArcelorMittal Germany, said that in the absence of competitive energy prices and the availability of clean energy sources, industrial production capacities would be at risk of falling. The company aims to invest EUR 2.5 billion in decarbonisation projects in Germany by mid-2025, of which around EUR 1.3 billion will be financed with public support.
ArcelorMittal's announcements are in line with the volatility and high costs in the European energy markets. Wind power generation fell compared to March and overall electricity demand decreased. In Germany and France, on the other hand, wind power generation increased, while the increase in gas prices in mid-April caused electricity prices to rise again.
Due to these fluctuations in energy markets and high costs, the European Union risks falling behind China and the United States in strategic areas such as clean technology production. Electricity prices in the EU are generally two to three times higher than in the US. Fatih Birol, Executive Director of the International Energy Agency, noted that existing industries face significant costs compared to major economies such as China and the US, and this situation will continue.
In this context, energy policies and market regulations in Europe are critical for the industry to remain competitive. Increasing renewable energy investments, reducing energy costs and ensuring energy supply security are seen as vital steps for the sustainability of the industry. ArcelorMittal's decarbonisation projects in Germany will be a test for the success of these strategic goals. The decisions to be taken by the German government and the EU on this issue will be decisive not only for ArcelorMittal but also for the entire European industry.
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