Britain paying highest electricity prices in the world
Sat 5:09 pm +00:00, 28 Sep 2024Chris x. Ed Miliband said that green energy would lower the bills yet the opposite is happening. Prices are going up in October and it is predicted to increase again by the end of 2024. How is Port Talbot going to compete using electric arc furnaces which require large amounts of electricity? All that will happen is that jobs will go abroad and thousands of workers will be made redundant.
Britain paying highest electricity prices in the world
By Paul Homewood
A reminder to John Penrose and the CPS that they are shutting the door after the horse has bolted.
Shame on both of them for failing to challenge the policies that have been leading us to this for more than a decade now:
British companies are paying the highest electricity prices of anywhere in the developed world, official data has shown.
The cost of power for industrial businesses has jumped 124pc in just five years, according to the Government’s figures, catapulting the UK to the top of international league tables.
It is now about 50pc more expensive than in Germany and France, and four times as expensive as in the US.
The figures will fuel concerns about the future of UK industry amid warnings that high energy prices are crippling domestic manufacturers.
They underline the challenge facing Ed Miliband, the Energy Secretary, who wants industrial businesses to switch away from gas to electricity-powered processes.
Frank Aaskov, the director of energy at lobby group UK Steel, said: “High industrial electricity prices have for too long damaged the competitiveness of UK steelmaking, and many in the wider manufacturing sector will be feeling the same pressure our steel companies do.
“The Government should tackle steep electricity costs and make the UK a fruitful place to invest, while enabling growth and improving competitiveness.”
The electricity price paid by UK industrial users per kilowatt hour rose to 25.85p in 2023, the data show. That compares to 10.43p as recently as five years earlier and 8.89p a decade ago.
It also far outstripped European rivals and allies such as the US and Canada. The equivalent price was 17.84p in France, 17.71p in Germany and 6.48p in the US.
