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Iron and Steel: Manufacturing Industries

Department for Business, Energy and Industrial Strategy written question – answered on 18th October 2019.

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Photo of Nicholas Dakin Nicholas Dakin Opposition Whip (Commons)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment her Department has made of the effect of higher electricity prices since 2016 on the steel industry.

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

We have not made a specific assessment of the effect of higher electricity prices on the steel industry. The ability of our steel industry to compete globally and across Europe is a priority for this Government. We therefore provide electricity cost compensation and exemption support to maintain the UK’s reputation as an attractive location for these businesses. We also have a number of funds available, or in development, that support energy intensive industries, including steel, to help them increase energy efficiency and transition to a low carbon future. These funds include the £315 million Industrial Energy Transformation Fund, the Industrial Heat Recovery Support Programme and the recently announced £250 million Clean Steel Fund.

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