Iron and Steel: Manufacturing Industries

(asked on 6th June 2019) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, if the Government will commit to providing competitive power prices for the steel sector.


Answered by
Chris Skidmore Portrait
Chris Skidmore
This question was answered on 19th June 2019

Between 2005 and 2010, industrial electricity prices rose by 64 per cent. Including taxes, industrial electricity prices rose from 4.77 pence per kWh in 2005 to 7.84 pence per kWh in 2010 while between 2010 and 2017, industrial electricity prices (including taxes) have risen from 7.84 to 9.79 pence per kWh.

The steel sector has received more than £291 million in compensation since 2013 to make energy costs more competitive [accurate as at 31/05/19], including over £53 million during 2018. Last year we announced the Industrial Energy Transformation Fund worth up to £315 million to support businesses with high energy use to transition to a low carbon future and to cut their bills through increased energy efficiency.

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