CEZ Group | OU: EU ETS reform will negatively impact Czech steel industry

OU: EU ETS reform will negatively impact Czech steel industry

23. 1. 2018

Two largest steel companies in the Czech Republic, ArcelorMittal Ostrava and Třinecké železárny, pay over CZK 1.6bn a year for emission allowances and the total payment for the entire trading period (until 2030) will likely exceed CZK 16bn.

(CIANEWS, Jan 23) Two largest steel companies in the Czech Republic, ArcelorMittal Ostrava and Třinecké železárny, pay over CZK 1.6bn a year for emission allowances and the total payment for the entire trading period (until 2030) will likely exceed CZK 16bn. The information was provided by the Steel Union (OU) adding that costs on the purchase of emission allowances will exceed companies’profits in 2027. The union would like to draft a system of indirect costs compensations, determine the free allocation of allowances for steelers, determine a functional protection against unfair imports and use income from emission allowances auctions to co-finance environment-friendly investments in industry to maintain tens of thousands of jobs.