Gas levy leads to additional annual costs of 500 million euros in Germany

Steel industry: Gas levy leads to additional annual costs of 500 million euros

On 15 August 2022, Trading Hub Europe GmbH announced the amount of the gas levy that will come into effect in October. This amounts to 2.419 cents per kilowatt hour.

Hans Jürgen Kerkhoff, President of the German Steel Federation, explains:

"The gas surcharge significantly increases the cost pressure on the steel industry that already exists due to the extreme price increases on the energy markets.

Competitive prices for gas and electricity are a basic prerequisite for steel production and steel-based value creation in Germany, especially on the way to a climate-neutral future. The German government urgently needs to find ways to limit the costs caused by the gas levy."

Currently, the considerable energy price increases are already leading to additional costs of around 7 billion euros for companies compared to the previous year. The gas surcharge that has now been set will add around 500 million euros annually.

Source: WV Stahl, Phofo: Fotolia