Coalition Pledges Industrial Electricity Price to Aid Steel Industry
The government coalition has pledged to drive forward with the implementation of the industrial electricity price, aiming to bolster the steel industry in its current crisis. The price will be revealed by early 2026 and will be retroactively reimbursed starting from the 2027 budget.
The coalition's commitment was discussed at a meeting attended by SPD leaders Klingbeil, Richter, and Labor Minister Barbara Bas. They gathered with works councils and trade unions to prepare for the upcoming 'Steel Summit'. The summit, held in autumn 2022, saw Chancellor Olaf Scholz represent the struggling German steel industry.
The industrial electricity price is expected to provide much-needed respite to the steel industry. The Climate and Transformation Fund has been earmarked to finance this initiative.
The coalition is resolved to implement the industrial electricity price with full political support. The price will be announced in 2026 and reimbursed retroactively from 2027, with the Climate and Transformation Fund providing the necessary funds. This move is aimed at aiding the steel industry in its current crisis.
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