UK Steel 2018 Budget Representation | EEF

UK Steel 2018 Budget Representation

Subscribe to UK Steel briefings feed


With the upcoming Budget announcement now confirmed for the 29th October, UK Steel have made a submission on behalf of the sector to the Treasury. As would be expected, our Budget submission once again focuses heavily on energy concerns, again highlighting the disparity between our electricity prices and those of our French/German competitors.


Whilst we have consistently pushed a wide range of measures with the Government to tackle the issue, we focussed our asks in this year’s submission to three core policies, the first of which we have succeeded in gaining BEIS support for. These are: 

  • An increase in the level of relief provided on renewables levies (RO, FiTs and CfD). With the relief measures in place, these levies still cost the sector around £12 million each year, reduced from gross cost of around £80 million. We estimate this could be reduced by a further £5-6 million by our proposal, bringing renewable policy costs in line with our French and German competitors.

  • An energy efficiency fund – the value of £60-80 million that would provide 30-45% of the funding for the energy efficiency projects identified by the sector.

  • Establishing a new target price for the Carbon Price Floor in response to rapidly increasing EU carbon prices. Our proposals would reduce electricity costs for the sector by a further £5 million

As you will see from the full submission, it is made abundantly clear that these two measure do not constitute a solution to the problem but will needed to be built upon significantly to completely eliminate the disparity.


About-us About us

We are the trade association for the UK steel industry. We represent the sector’s interests to government and the public.

Learn more >
UK Steel Achievements Achievements

As the voice of the steel industry, we interface with government and parliament to influence policy so that it underpins, rather than undermines, the long term success of our sector.

Learn more >
Contact us spot Contact us

Get in touch with the UK Steel team

Read more>
Online payments are not supported by your browser. Please choose an alternative browser or make payments through the 'Other payment options' on step 3.