Policy & Regulation

Energy industry holds breath as US imposes steel tariffs

The energy industry is concerned that US tariffs on European steel and aluminium could push up costs and reduce energy demand The energy industry is concerned that US tariffs on European steel and aluminium could push up costs and reduce energy demand.
By Andreas Walstad 4 June 2018 0 31130
Cecilia Malmström, EU trade commissioner EU Commissioner for Trade Cecilia Malmström. (EC)

The gas industry could be exposed to increasing costs and lower demand following the US decision to impose tariffs on European imports of steel and aluminium. 

European gas, power and carbon prices fell last week after the United States announced on Thursday that it would impose tariffs on imports of European steel and aluminium, which could reduce energy demand from energy-intensive industries in Europe. 

Steel and aluminium manufacturers are big users of gas and electricity, and need to buy carbon allowances to cover their...