UK Steel Companies Demand Reduced Energy Costs

UK steel companies pay 62% more electricity than German firms and 80% more than French firms, according to Energy Price Gap - A New Deal for British Metals.

The report says that “UK energy intensive industries are facing some of the highest industrial electricity prices in Europe. This is detrimental to the competitiveness of the metallurgical sector as it is electricity intensive and highly prone to international competition, which means it cannot incur additional costs for customers. Because this affects the direct competitiveness of steel producers and the level of investment, electricity prices have become a major ongoing concern for the sector and its long-term sustainability. ”

UK Steel CEO Gareth Stays said “our new report clearly demonstrates that UK steel mills are facing systemic and consistently higher electricity prices than our competitors. Electricity is one of the biggest costs for the steel industry and is detrimental to our competitiveness as we constantly have to pay significantly more. The government must act now to ensure the level playing field the sector desperately needs. ”