The UK government is facing increasing pressure to tackle soaring industrial energy costs, with industry leaders warning that unless action is taken, many manufacturers may collapse. In a letter to Chancellor Rachel Reeves, the TUC and Make UK called for competitive electricity prices, highlighting that UK producers pay significantly more for energy than their European counterparts, such as Germany and France. The situation is exacerbated by high environmental levies and grid charges in the UK, pushing energy-intensive sectors like steel and chemicals to the brink, necessitating immediate interventions from the government.
"The government has committed to ensuring Britain is open for business and pulling down barriers to investment. If it is serious about this, it must publish a plan to deliver industrial electricity prices that are competitive with our European peers."
"Leading industry bodies warn that more manufacturers could face collapse unless electricity prices are brought in line with European competitors."
"Critics of the UK's green policy framework argue that environmental levies and grid charges are inflating costs for domestic manufacturers, significantly higher than in many EU countries."
"According to figures from UK Steel, British producers will pay an average of £65.97 per megawatt-hour for electricity this year - compared with £49.50 in Germany and £43.49 in France."
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