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UK unveils scheme to slash energy costs for key sectors

The UK Government has launched the British Industry Supercharger to reduce energy costs for key sectors like steel, metals and chemicals.

Measures aim to align UK businesses globally, offering exemptions from certain electricity costs and reducing network charges.

Estimated savings for energy intensive industries like steel range from £320 million to £410 million in 2025, benefitting approximately 370 businesses and 400,000 skilled workers nationwide.

Trade Secretary Kemi Badenoch said: “Putting energy intensive industries on an equal footing with the world’s other major economies is crucial to helping these businesses remain internationally competitive.”

UK Steel Director General Gareth Stace said: “We are pleased to see the government taking action to bring the steel industry’s power prices closer to those of our competitors abroad.”

Arjan Geveke, Director of the Energy Intensive Users Group said: “For those companies eligible for support, these measures will bring our industrial electricity prices closer to those in other countries and help the competitiveness and decarbonisation of energy intensive industries in Great Britain.”

Dave Dalton, Chief Executive Officer of British Glass, said: “The British Industry Supercharger is a key step forward in securing a sustainable future for the glass industry and helps us on our way to reaching our net zero targets.”

Energy Live News
Energy Live News
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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