The Steel Manufacturers Association (SMA) has warned that affordable and reliable electricity is critical to sustaining growth in the US steel industry, in testimony submitted to a congressional hearing on energy regulation.
According to the SMA, its members generate $149.4 billion in annual economic impact, employ over 87,000 workers, and are investing approximately $25 billion in new and modernized steel facilities.
The association emphasized that electric arc furnace (EAF) mills require between 40 MW and 200 MW of power per facility, making electricity one of the largest cost components. Rising power demand from data centers and other large consumers is increasing pressure on the grid.
The SMA called for accelerated development of power generation and transmission infrastructure and urged the Federal Energy Regulatory Commission (FERC) to ensure industrial users have access to competitively priced electricity.
VietnamSteel by Hoa Sen Group
