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The Chemical Industry
The chemical and pharmaceutical industry is fundamental to modern society. With an immense variety of products, from vital medicines and foods, the construction of buildings, to transport and leisure, the industry truly does have an impact on virtually every aspect of our daily lives.
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Secure and competitive energy for all
Recent events have only emphasised the importance of delivering secure and competitive energy for all UK consumers, all whilst we transition to net zero – the task is huge. Chemistry is by default energy intensive, and even in a net zero world chemical processes and production require significant amounts of energy.
Where that energy comes from hugely dictates the ability to decarbonise and ultimate exposure to high energy and carbon prices for both the chemical sector and many of the supply chains it underpins. Not only does this risk the competitiveness of existing assets in the UK, but it also jeopardises the much-needed private investments to secure jobs and the essential building blocks of existing and emerging technologies transforming UK manufacturing.
- Put into action the UK’s long-standing commitment to delivering the lowest cost energy bills for all UK consumers and, beyond Europe, cost competitive prices for energy and trade intensive industries.
- Implement effective regulator duties in the energy transition to protect all consumers (including those sitting in industrial and commercial sectors).
- As a minimum, retain existing relief schemes for trade and energy intensive industries and look to build a wider level playing field opposite competitor energy prices.
- Abolish the UK-only Carbon Price Support (CPS), which inflates UK industrial electricity prices with no environmental or economic benefit.
- Ensure those consumers that are constrained in transitioning away from gas in the short term are not inadvertently penalised with higher or disproportionate energy prices.
