An assessment of the impacts of the carbon price floor on energy intensive industries is given in HMRC’s tax information and impact note, published alongside the Budget. Electricity bills for an average energy-intensive business are estimated to increase by 2% and 6% in 2013 and 2016 respectively as a result of the carbon price floor. However, in the late 2020s electricity bills will be between 2% and 5% lower than would otherwise have been the case.
As the hon. Lady knows, we are meeting not just the steel manufacturers, such as those in her constituency, but a range of energy-intensive industries. I will be meeting the chief executives of several before the House rises for the recess. We are considering a range of measures in conjunction with the Treasury and the Department for Business, Innovation and Skills, and in the autumn we will announce the result of that collaboration.