Industrial Strategy: UK Steel welcomes the Industrial Strategy’s steps to deliver competitive industrial electricity prices

Monday, 23 June 2025 10:18

UK Steel can reveal that the Government has adopted three key recommendations for its newly unveiled modern Industrial Strategy to help tackle industrial electricity prices: Increase of Network Charging Compensation to 90% from 2026, matching what is provided in Germany and France – This will reduce power prices by an estimated £6.5/MWh and save the steel industry £14.5m per year. Continuation of the indirect compensation scheme, which compensates the steel industry...Request free trial