European industries are struggling to stay competitive amid soaring energy costs. Surging natural gas and electricity costs have resulted in a jump in operational costs for all industries, from steelmaking and car manufacturing to textiles and clothing. Europe’s industry associations cautiously welcome the various EU proposals, but urge Brussels to take further action. European industries are slammed by soaring energy costs so much that they are curtailing or shutting down production, losing global market shares, and risking permanent damage to Europe’s competitiveness. Surging natural gas and electricity costs have resulted in a jump in operational costs for all industries, from steelmaking and car manufacturing to textiles and clothing. As manufacturers are curtailing, shutting down, or relocating production, they risk never reopening in Europe again, eroding the EU’s competitiveness, including in the industries crucial for the energy transition, such as the metals sector. Europe’s industry associations cautiously welcome the various […]