Iron and Steel: Energy

Department for Business, Energy and Industrial Strategy written question – answered on 11th January 2019.

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Photo of Jessica Morden Jessica Morden Opposition Whip (Commons), Chair, Statutory Instruments (Joint Committee), Chair, Statutory Instruments (Select Committee)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the implications for his policies of the recommendations in the UK Steel report entitled The energy price scandal, a fair power deal for UK steel, published in December 2018.

Photo of Richard Harrington Richard Harrington Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The UK Steel report on industrial electricity prices is a useful contribution as we develop the White Paper that will build on the principles set out by the Secretary of State in his energy speech on 15 November 2018.

The report highlights the Industrial Energy Transformation Fund. The Budget on 29 October 2018 announced that we are providing £315 million for this Fund to support industrial energy efficiency and decarbonisation projects to bring energy costs down for vital industries, including the steel sector.

We also continue to reduce the cumulative impact of energy and climate change policies on industrial electricity prices for key energy intensive industries. This includes a package of relief for these industries worth over £850 million since 2013, of which more than £270 million has been provided to the steel sector. We are looking carefully at the proposals in the UK Steel report for developing this package of relief.

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