EAF steelmaking based on renewable electricity allows for low-CO2 steel production. However, the increased integration of volatile renewable energies into the energy system requires the provision of flexibility options. In view of the substantial oxygen consumption in the steel mill, flexible on-site generation and storage holds a significant potential for demand-side management. The utilization of by-product oxygen from an electrolysis plant not only contributes to load flexibility but also generates a climate-neutral fuel. In the present study, different process layouts are developed based on state-of-the-art technologies. The proposed supply systems for oxygen, hydrogen, and synthetic natural gas are subjected to design and operational optimization and assessed with respect to the overall demand-side flexibility, carbon dioxide emission reduction, and economic viability.