In order for the Ukrainian steel industry to be competitive, the cost of electricity should be the same as for producers from neighboring countries. Oleh Krykavskyi, Director of Government Relations at ArcelorMittal Kryvyi Rih, emphasized this during his speech at the Ukrainian Exports: Through the Thorns to the EU forum.
According to him, in June, the European Union adopted a framework decision to reduce electricity prices to support industry. It is planned to reduce the price to EUR 50 per MWh. At the same time, the cost of electricity in Ukraine is constantly growing and currently stands at about USD 180 per MWh.
"The introduction of compensation and regulatory mechanisms aimed at reducing the cost of electricity for energy-intensive businesses is an "absolutely European model."
Oleh Krykavskyi also said that in Germany, where AMKR's parent company operates, EUR 80 per MWh is considered a high price for electricity, so the government has allocated EUR 6.5 billion for 2026 to reduce prices to EUR 50-60 per MWh. Another EUR 200 billion will be allocated for similar purposes by the Energy Efficiency Fund.
"We have to look closely at these examples and realize that we do not live in our own bubble. European governments are working very clearly to protect their steel industry in this difficult period when prices are soaring, and they are helping with tariffs. I want us to understand that helping with electricity tariffs is a completely European model," he said.
We will remind, earlier Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih, said that the rapid rise in electricity prices in Ukraine threatens to close the mining and metallurgical plant in the Dnipropetrovsk Region.
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