nuclear power, along with possibly more solar and wind power, as well as the approval of continued oil and gas exploration in the North Sea. The plan, which was expected to be set out on Thursday but was delayed as a result of disagreements in the cabinet. Ahead of the upcoming energy strategy, the country’s strategic heavy industries have expressed concern that they are at risk of being left high and dry by a lack of government support amid ballooning energy bills.
Industry experts are of the view that UK businesses are risk owing to the government’s failure to follow measures taken by European nations to reduce gas and electricity costs. According to recent figures, electricity alone can cost up to 60 per cent for British firms compared to their European competitors and one industry source said heavy energy users were “not expecting anything” to help them on the matter.
Earlier this month, Prime Minister Boris Johnson vowed to address the needs of “the whole of British industry”, but Secretary of State for Business and Energy, Kwasi Kwarteng, informed MPs last week that steps have already been taken by the government to support industrial firms facing soaring costs.
Accordingly, energy intensive industries and major manufacturing firms claim the mixed messages have left them at risk of receiving minimal help or none at all. Richard Warren, a spokesperson for UK Steel, said the trade body had “long urged the government to reduce the politically and regulatory controlled elements of electricity bills in line with action taken by governments elsewhere”. Businesses point out that the renewal of a compensation scheme which gives a refund to electricity intensive industries on the cost of the UK’s emissions trading scheme, would be only a “partial solution”, although that too expired on Friday.
