Fri, 31 Oct 2025

Fri, 31 Oct 2025 £420m bill cut for heavy industry as union attacks 'obscene' energy profits

UK Steel said while the increased support was welcomed, the government could have gone further.

* The UK government has announced a £420m reduction in energy bills for approximately 500 businesses, including steel, glass, and cement producers.
* This represents an increase from a 60% discount to a 90% discount on electricity network charges, which make up around 20% of a company's energy bill.
* The savings will be paid for through existing government tax revenue, with the aim of "levelling the playing field" with international competitors and creating jobs and wealth.
* However, industry groups have expressed concerns that while this is welcome news, it still only amounts to £14m for the steel industry and may not provide significant relief until 2027.
* Unite's secretary general Sharon Graham has welcomed help with costs but criticized energy company profits as "obscene", calling for nationalization of the industry.
* The UK government is also facing questions about its Employment Rights Bill, which would give workers certain rights from their first day of work, including protection against unfair dismissal and guaranteed hours.
* However, business groups have expressed concerns that this could make hiring more risky and lead to fewer job opportunities.
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