“German steel industry reasons with ‘horror scenarios’”

The NGO Green Budget Germany (FÖS) claims recent studies commissioned by the German steel industry on the impact of the planned reform of the EU Emissions Trading System (ETS) were based on unrealistic assumptions which portrayed misleading “horror scenarios”, according to a press release. The alleged high cost burden on the steel sector arose from the assumption of unrestraint growth without serious climate protection efforts, which was unrealistic. “For example, the calculations are based on a high CO₂-price of 40 euros – that is unrealistic considering current prices of about 4 euros and a large surplus,” said Swantje Fiedler, head of energy policy at FÖS.

Find the analysis in German here.

Read the CLEW article German steelworkers fight EU plans for emissions trading.