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Written question asked by Bill Esterson (Labour) on Thursday, 29 June 2023, in the House of Commons. It was due for an answer on Wednesday, 5 July 2023 (named day). It was answered by Amanda Solloway (Conservative) on Wednesday, 5 July 2023 on behalf of the Department for Energy Security and Net Zero.

Electricity: Iron and Steel

Question

To ask the Secretary of State for Energy Security and Net Zero, what steps he is taking to help the steel industry access competitive wholesale electricity prices.

Answer

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 have just carried 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.

Secondary information

Type
Written question
Reference
191792
Session
2022-23
Subjects
Competition Electricity Iron and steel Manufacturing industries Prices
Link
View this Written question on www.parliament.uk