Energy Intensive Industries: Government Assistance
The question
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of the uplifted Network Charging Compensation Scheme on the UK’s industrial electricity price competitiveness relative to other G7 economies.
Answered by Chris McDonald
Raising the level of compensation delivered by the Network Charging Compensation Scheme from 60% to 90% will reduce electricity prices for the average energy intensive industry (EII) business by a further £7-10/MWh. This increased discount will bring electricity prices in this country closer in line with those in other G7 countries, including France and Germany. This support will provide meaningful electricity cost relief for eligible businesses to help them remain competitive and support them to decarbonise.
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