London, 23 February 2023 – The Energy Intensive Users Group (EUIG) welcomes the Government’s announcement to reduce the cost of renewable electricity policies and capacity mechanism and explore a reduction in network charges on electricity prices for many energy intensive businesses.
These measures will all help to reduce the risk of putting those EIIs that qualify at a significant competitive disadvantage, especially in the context of high energy costs in the next few years. Moreover, they will help to encourage decarbonisation in many of the vital industries the EIUG represents. It is vital that Government delivers on these commitments by Spring 2024. The EIUG looks forward to the Government response and working with the Departments on the delivery.
Dave Dalton, chair of the EIUG said; “We welcome today’s announcement with the measures to reduce electricity prices for energy intensive industries. These measures will bring our industrial electricity prices more in line with those in other countries and help the competitiveness and decarbonisation of energy intensive industries in the UK”.