Energy bills could be cut by up to 25% for thousands of UK businesses
For thousands of enterprises, electricity costs will be cut by scrapping green taxes to help them compete with foreign competitors.
The plan, which can interrupt the invoices up to 25 percent, is an important part that Sir Keir Starmer hopes that the 10 -year industrial strategy will deal with stuttering economic growth and transform the business environment.
The Prime Minister said that the plan was a “turning point for the UK economy”, supporting the key industries with the growth potential.
Manufacturers warned that “disabled” power costs are much higher than competitors abroad for UK businesses.
As of 2027, a new British industrial competitive plan will reduce costs by exempt from taxes on invoices, including costs per hour, renewable obligations, feed tariffs and capacity market for more than 7,000 manufacturing firms.
The steel industry will see that about 500 of the most energy -intensive companies, including chemicals and glass construction, and the network fees have been cut – they are currently getting 60 percent discount through the British Industry Super Charging Device program, which will rise from 2026 to 90 percent.
The plan also promises measures to accelerate the time it can take to connect new factories and projects to the energy network.
“This industrial strategy points to a turning point for the UK economy and a clear break from the plasters of the past,” Sir Keir said.
Authorized, a decade of “global uncertainty” during the “global uncertainty” “British enterprises should invest in long -term certainty and guidance,” he said.
Energy Secretary Ed Miliband accused us to “rely on gas sold in variable international markets” for high electricity costs for businesses.
Authority, “wind and nuclear energy in two folding” “household peoples and businesses will reduce bills for good,” he said.
The industrial strategy focuses on eight areas where England is already strong and has more growth potential: advanced production, clean energy, creative industries, defense, digital services, life sciences and professional and business services.
Plans for five sectors will be published on Monday, but the strategies of defense, financial services and life sciences will come later.
After showing that the latest figures decreased by 0.3 percent of the economy in April, businesses feel the effect of Donald Trump’s tariffs and internal pressure as a result of the national insurance contributions of the companies.
There are also concerns about the impact of the employment rights bill that can contribute to the business costs of the government in the sector.
“More competitive energy prices, rapidly monitored planning decisions and support innovation will provide a basis for growth.
“However, the global race to invest in investment will require a laser -like and constant focus on the general competitiveness of the UK.”
Organization of the producers, England’s chief Stephen Phipsson, the industry’s three major challenges faced by “a skill crisis, energy costs disability and inability to access the capital for new British innovators” and strategy “plans to address all three,” he said.
Tuc Secretary General Paul Nowak said: “We invite ministers to take action to reduce high energy costs for producers – something that unions call as an urgency.
“For a long time, the British industry has been Hamstung with energy prices far above France and Germany. It has made it difficult to compete, invest and grow.”
