EU Industry Boss Urged Leaders to Act Fast as Soaring Energy Prices Threaten Factories

European industry leaders have issued an urgent plea ahead of Thursday’s informal EU summit in Alden Biesen. The plea follows a meeting in Antwerp, where more than 100 organisations signed a declaration stressing that electricity prices in Europe remain higher than in rival countries. They said rising carbon costs and a system that increases charges each year are driving up production expenses for sectors such as steel, chemicals, aluminium, cement, and ceramics. Industry groups warned that persistently high and volatile power prices could push investment abroad and weaken Europe’s industrial capacity. They called for electricity costs to return to about €44–€50 per megawatt hour. EU Commission President Ursula von der Leyen acknowledged the pressure, saying more ETS funds should be reinvested into industry to help cut costs.