At a recent steel summit in Berlin, German Chancellor Olaf Scholz pledged to ensure competitive national energy prices and fair international trade for the steel industry. Scholz emphasized the geopolitical importance of the steel sector and suggested measures such as capping power grid fees and having the government cover some power transmission costs.
Despite these promises, industry representatives expressed concerns that the proposed €1.3 billion subsidy for grid costs would be insufficient. They also called for a European steel summit to address the industry’s challenges more comprehensively. The summit included executives and union representatives from major steel companies like Thyssenkrupp Steel, Salzgitter, and ArcelorMittal. However, the meeting was criticized by some as a “show summit” with limited concrete outcomes.