The EU and its member states must do more to assist domestic metals producers after the European Commission this week issued its "toolbox" to tackle a surge in energy prices that was forecast to last through the coming winter, according to regional non-ferrous metals industry body Eurometaux.
The EC on Wednesday October 13 proposed short-term national measures that would include state aid for companies and targeted tax reductions.
The Commission said that it would also support investments in renewable energy and energy efficiency; examine possible measures for energy storage and purchasing of gas reserves; and assess the structure of the current electricity market.
But Eurometaux said that more must be done to safeguard the most badly affected industries, with a need for a prompt response from EU member states to mitigate "skyrocketing electricity prices, which will continue to cause closures and curtailments in the metals industry if carrying on through the winter, as expected."
"Europe's power crisis has already led to closures and curtailments in the non-ferrous metals sector, and could lead...