High Electricity Taxes Are Crippling European Industry

European countries need to work out ways to lower taxes on electricity to revive the competiveness of Europe’s energy-intensive industries, Leonhard Birnbaum, president of electricity lobby Eurelectric, told Reuters in an interview published on Monday.  Power prices in the EU are up to three times higher than in the United States, for example, which further erodes the competitiveness of energy-intensive industries including aluminum, steel making, chemicals, and cement production.  Europe is losing and will continue to lose competitiveness…