Sun, 22 Jun 2025

Sun, 22 Jun 2025 Lower energy costs part of government's 10-year plan for industry

Plans to slash energy bills by up to 25% for over 7,000 UK businesses will be announced alongside other plans to boost growth.

* The UK government's new 10-year industrial strategy will aim to slash energy bills by up to 25% for over 7,000 businesses.
* A British Industrial Competitiveness Scheme will cut costs by up to £40 per megawatt-hour from 2027 for manufacturing firms.
* Network charges for 500 of the most energy-intensive firms, including steel and chemicals, will be reduced by 30%.
* The government plans to speed up connection times for new factories and projects to the energy grid.
* Over one million new "well-paid jobs" are expected to be created over the next decade.
* Eight specific sectors have been identified as key areas for growth: advanced manufacturing, clean energy industries, creative industries, defence, digital and technologies, financial services, life sciences, and professional and business services.
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