BusinessEurope reposted this
🚨 Brussels, we have a problem: High energy costs are putting European industries at risk!🚨 European businesses are facing a major competitiveness challenge, largely driven by skyrocketing energy bills. 💡 Did you know? - EU companies pay 2-3 times more for electricity than their US counterparts. - Natural gas prices in Europe are 4-5 times higher than in the US. This situation is simply unsustainable. 📊 At BusinessEurope we’ve teamed up with Compass Lexecon to analyze the future of Europe’s energy market up to 2050. The findings? Eye-opening. Even in the best-case scenario, our energy prices could still be 50% higher than in the US. But we’re not just pointing out the problem – we’re offering solutions. This week, we hosted an event in Brussels to discuss how Europe can strengthen its competitiveness during this critical energy and climate transition. 🚀 Key recommendations from our energy study: - Scale up renewable and low-carbon energy in cost-effective regions with strong European-level coordination. - Broaden the list of industries at risk of investment leakage. - Exempt industrial consumers from rising energy infrastructure costs. After an impactful keynote by MEP Christian Ehler, I had the chance to speak with Angela Barnes of Euronews about these recommendations. A huge thanks to our brilliant panelists: Fabien Roques (Compass Lexecon), Nick Keramidas (Metlen Energy & Metals), Pierre Schellekens (@DG ENER), and Laura Cozzi (International Energy Agency (IEA) for their insights. 🌍 The European business community is committed to finding solutions. Now it’s time for EU leaders to act. 📘 Read our full energy study and policy recommendations here: [https://lnkd.in/dQQbKFXD) #energy #climate #competitiveness #business #europe