Measures will cut network charges and provide exemptions from electricity costs for firms in sectors like steel, metals and chemicals.
- government rolls out British Industry Supercharger measures to put Britain’s energy-intensive industries on competitive footing with global counterparts
- energy intensive industries (EII) including steel will save an estimated £320 million – £410 million in 2025
Around 370 businesses employing 400,000 skilled workers around the country are set to benefit from lower costs as a result of the rollout of the British Industry Supercharger today (1 April 2024).
The Supercharger, first announced and consulted on by government last year, includes a series of targeted measures to bring energy costs for key industries in line with other major economies, levelling the playing field for UK businesses.
The support will be made available to sectors particularly exposed to the high cost of electricity including steel, metals, chemicals, cement, glass and paper, and is expected to be worth between £320 million – £410 million in total savings to UK businesses next year.
