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Steel Industry News – September 2024

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British industrial facilities pay up to 50% more for electricity than competitors in France and Germany, which is hampering their ability to decarbonise, the steel industry is warning.

Steel UK has urged the Government to act on this significant price discrepancy as Ministers return from Parliament’s summer recess this week.

Ministers will doubtless be thinking about energy prices for homes after the Chancellor added new means testing filters to the winter fuel payment for pensioners, and the private sector is also striving for updated interventions.

Steel UK has warned that power costs for a fully electrified industry would represent up to 180% of the GVA that the sector brings to the economy.

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