This warning comes from Oleksandr Kalenkov, president of Ukrmetallurgprom, during a meeting of the Federation of Employers’ Energy Committee, according to Telegraf.
Ukraine now has some of the highest electricity tariffs in Europe. As a result, ArcelorMittal — a key investor with \$5–7 billion in commitments — is reportedly considering exiting the Ukrainian market. This could trigger a domino effect: the collapse of the steel industry, widespread layoffs, and ripple impacts on related sectors and small businesses.
Kalenkov also emphasized the paradox: despite nuclear generation levels comparable to France, electricity in Ukraine is several times more expensive, rendering local industry globally uncompetitive.
