Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government which options they are considering to provide competitive wholesale electricity prices to the steel industry.

Powering Up Britain – Energy Security Plan sets out the steps the Government is taking to ensure the UK is more energy independent, secure and resilient as well as our goal for Britain to have among the cheapest wholesale electricity prices in Europe by 2035.

The Government has also announced new measures to support Britain’s Energy Intensive Industries (EIIs) faced with high electricity prices. The British Industry Supercharger will reduce policy costs by exempting eligible firms from the costs of renewable energy obligations and the GB Capacity Market. It will offer support with network charges and bring an increase in the capacity market exemption, for which we are currently carrying out a public consultation. This is in addition to other ongoing support providing compensation for the indirect costs of the UK Emissions Trading Scheme and the Carbon Price Support mechanism.