UK Steel comment on PM announcement on energy cost compensation

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Commenting on the announcement by the Prime Minister of a commitment to implement the Energy Intensive compensation package as soon as State Aid approval is secured, Gareth Stace, Director of UK Steel, said:

“This is a welcome commitment from the Prime Minister which reflects the urgency of the situation the sector is facing. The steel sector had asked for a full commitment to help offset the cost of high energy costs and, it now appears this will be given over the lifetime of the Parliament. This will give much needed confidence to the sector in terms of future investment.

“It is now essential that we seek state aid as soon as possible so that payments can begin immediately as promised. This will help provide the breathing space to help the sector through the current crisis.”


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