Over 1,300 European industry organizations have called on the European Union to lower energy prices and carbon costs to improve the bloc's competitiveness. This demand arose during a high-level meeting in Belgium focused on revitalizing industry. Industry leaders argue that current energy costs in Europe are excessively high, not only due to market commodity prices but also due to regulatory charges, making it difficult for them to compete globally.

The industry's declaration emphasizes the need for electricity prices to revert to pre-2021 levels of €44 ($52) per MWh, significantly lower than the current range of €80-100. Despite the European Commission President Ursula von der Leyen stating that the EU is on track to lower costs through improvements to the electric grid and offshore wind initiatives, industry executives express concern that such measures will take considerable time to implement and that immediate actions are necessary to safeguard competitiveness.

This plea from industry leaders highlights a growing tension within the EU about energy policy and its impact on economic performance. As the bloc navigates its energy transition in pursuit of sustainability and climate goals, finding a balance between long-term environmental objectives and short-term economic interests becomes increasingly critical. The outcome of these discussions in Belgium could have significant implications for industrial sectors across Europe, influencing both operational costs and competitiveness on the global stage.