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British government considers offering further remission for industrial electricity cost

16 Aug 2022 17:18 reported by Isora

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According to the Department for Business, Energy and Industrial Strategy (BEIS), the British government is currently consulting for increasing further support to local industries with high electricity demand.

The UK would like to raise the remission rate from 85% to 100% for environmental spending as well as a policy cost. As BEIS pointed out, such a phenomenon reflects the truth that in the UK, the industrial electricity price is higher than that in other countries, including Europe.

Statistics showed that the UK produces 7 million tons of crude steel per year, filling 70% of the total demand of the country, while the electricity cost occupies 20% of the whole steel processing cost.

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