Industry: Energy
The question
To ask the Secretary of State for Business and Trade, what steps his Department is taking to reduce industrial energy bills.
Answered by Chris McDonald
Our modern Industrial Strategy will make British industrial electricity costs cheaper. From 2027, the British Industrial Competitiveness Scheme will reduce electricity costs by up to £40 per megawatt hour (MWh) for over 10,000 manufacturing businesses in Industrial Strategy growth sectors and their foundational supply chains. The Government has also announced an additional payment for eligible businesses in 2027 to cover the 2026/27 period.
In addition to this, the British Industry Supercharger reduces electricity costs for eligible energy-intensive businesses by c.£65 – £87/MWh by exempting them from certain policy costs and offering 90% compensation for network charges through the Network Charging Compensation scheme.
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