Simon Clarke MP and myself along with fellow Conservative MPs from the APPG for Steel met to discuss issues relating to the industry with Kemi Badenoch MP, the Secretary of State for Business
We discussed issues about how the industry can be supported to succeed most effectively, especially in light of the concerning news of planned job losses at British Steel in Scunthorpe. The high cost of energy is obviously a huge challenge at the moment for energy-intensive industries.
The Government is in talks with both British Steel and Tata about the support it can provide directly. Additionally, the Government will hold a consultation in the spring on three main measures:
reducing the network charges that industrial users pay for their supply of electricity;
cutting costs associated with maintaining generating capacity; and
looking at whether to increase exemptions on costs arising from renewable energy obligations from 85 per cent to 100 per cent.
