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Chemical industry reaction.
Today the Government announced further targeted measures, in an effort to bring energy costs for key UK industries in line with other major economies around the world. The British Industry Supercharger will look to reduce the network charges that industrial users pay for their electricity, and to increase exemptions from the costs of Government support for the renewable energy sector.
Steve Elliott, Chief Executive of the Chemical Industries Association, which represents the UK’s chemical industry said: “Without yet seeing the detail, the announcement is welcome news for UK manufacturers that have been faced with an increasing disadvantage on electricity prices over the last ten years. A more competitive electricity price for industry makes the UK a more attractive investment opportunity, with positive implications for both growth and the net zero transition. But the package only applies to a limited number of firms while many more are still subject to high and increasingly volatile prices. Which is why we stand fully behind the Secretary of State’s commitment to be the economy with the cheapest wholesale electricity price by 2035. We look forward to working with him and his new department on the reforms needed to get us there.”
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For more information or to interview Steve Elliott, please get in touch - Simon Marsh at MarshsS@cia.org.uk or 07951 389197 or Diana Tamayo at tamayod.cia.org.uk 07885 831615.