"Energy taxes are hindering Europe" - Industries pay tariffs 2-3 times higher than in the USA
Governments looking for ways to help Europe's struggling industries should crack down on the continent's high energy taxes, which are eroding competition, the head of industry group Eurelectric said.
The European Union is drawing up a package of measures to support industries as manufacturing giants warn of factory closures and thousands of job losses.
Leonhard Birnbaum, president of the Eurelectric industry group, said Europe's industrial problems are many, including a more fragmented market than China and difficult access to credit, but quick relief must be found by lifting energy prices. any cost unrelated to the structure of the industry.
"We appreciate that states always need more money, but if you really want to electrify, then you can't have, for example, a disproportionate tax burden on electricity compared to the tax burden on gas," Birnbaum added.
EU industries pay energy prices 2-3 times higher than those in the US. Taxes accounted for an average of 23% of the retail electricity price paid by Europe's energy-intensive firms in 2023, according to Bruegel's analysis.
But many of these taxes are imposed by national governments and outside the control of the EU. Negotiations between EU countries to change EU tax rules in favor of cleaner energy sources have stalled since 2021.
Wholesale electricity prices in Europe last month climbed to their highest levels in more than a year, although they remain well below their peak in 2022, after Russia invaded Ukraine and cut gas deliveries to the EU.
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