Latest news with #UKSteel
Daily Mail
2 days ago
- Business
- Daily Mail
Starmer under fire over American tariffs on UK steel as industry still faces a 25% levy
Britain's struggling steel industry last night called for American tariffs to be axed 'once and for all' – nearly three months after a deal to do so was struck. Steel exported from the UK to the US still faces a tariff of 25 per cent despite an agreement in early May to cut it to zero alongside the levy on cars and aerospace. Most other British goods entering the US face a 10 per cent levy – which thanks to Brexit is lower than the 15 per cent Donald Trump agreed with the EU. Sir Keir Starmer is understood to have pressed the President to finally reduce tariffs on British steel to zero as agreed during talks in Scotland yesterday. That would give the UK a welcome competitive advantage given steel imported by America from much of the rest of the world faces a 50 per cent tariff. But the White House remains concerned about how the deal would work. Industry bosses warned the delay is costing jobs. 'There has been nearly three months of uncertainty for business, of whether we should export our steel or delay a little bit,' said UK Steel director general Gareth Stace. 'The President and Prime Minister must settle the zero-tariff deal once and for all. 'UK steelmakers are losing contracts with their most critical clients in the US, and every passing day without a deal puts more jobs at risk.'
South Wales Argus
10-07-2025
- Business
- South Wales Argus
Plans to split UK market into energy pricing zones dropped
The Energy Secretary had been considering proposals for zonal pricing that would see different areas of the country pay different rates for their electricity, based on local supply and demand. But the Government has now decided to retain a single national wholesale price. Energy Secretary Ed Miliband said: 'Building clean power at pace and scale is the only way to get Britain off the rollercoaster of fossil fuel markets and protect families and businesses for good. 'As we embark on this new era of clean electricity, a reformed system of national pricing is the best way to deliver an electricity system that is fairer, more affordable, and more secure, at less risk to vital investment in clean energy than other alternatives.' Energy Secretary Ed Miliband said a reformed system of national pricing is the best way forward (Jonathan Brady/PA) Energy business SSE said the move provided 'much-needed policy clarity' for investors and consumers. Martin Pibworth, chief executive designate of SSE, said: 'This decision brings welcome clarity and enables us to get on with investing in and delivering critical clean energy infrastructure, in doing so transforming our energy system and supporting the UK Government's bold ambitions for clean power by 2030. 'Zonal pricing would have added risk at a time when the UK needed to accelerate its clean power transition, making energy bills more expensive. This decision reaffirms the UK as a world-leading renewables market, enabling the efficient delivery of the homegrown energy the country needs.' Gareth Stace, director-general at UK Steel, said the industry was pleased the Government had heeded warnings and ruled out the 'risky' proposal. 'Zonal pricing would have penalised existing industrial sites, driving up electricity prices, further damaging our ability to thrive, foster jobs, and undermining much needed investment in steelmaking. 'Electricity prices for the UK steel sector are among the highest in Europe. UK Steel warned that zonal pricing would have created a 'postcode lottery' for industrial power prices, conflicting with the Government's own ambition to reduce power costs for British industry. 'As the industry transitions fully to electric arc furnace technology, price competitiveness will become even more central to the sector's future. 'While today's decision provides clarity on the direction of electricity market reforms, the Government must ensure that the alternative to zonal pricing, reformed national pricing, supports rather than hinders industrial competitiveness.' Centrica chief executive Chris O'Shea said it was a 'common sense decision' and that the 'theoretical benefits never stacked up against the real-world risks' in potential zonal pricing. Ed Miliband's promise to cut bills by £300 was always a fantasy. This is what happens when you set yourself impossible climate targets and ignore the costs. In 2030 you'll be paying around £100 in your energy bill to pay wind farms literally to switch off when it's too windy. — Claire Coutinho (@ClaireCoutinho) July 10, 2025 Claire Coutinho, shadow secretary of state for energy security and net zero, said: 'Ed Miliband promised to cut energy bills by £300, but instead as I warned, bills are going up and it's increasingly obvious that this promise was a fantasy. 'The truth is that wind developers have Ed over a barrel because he set himself impossible wind targets, that means we'll be paying them billions of pounds extra, roughly £100 on bills by 2030, not to produce energy, but simply to turn off. 'Even Downing Street are waking up to the fact that Ed's net zero zeal is going to impose huge costs on bills and jobs as we lose businesses to more polluting countries with cheaper energy. That's bad for households, our economy and emissions.'
North Wales Chronicle
10-07-2025
- Business
- North Wales Chronicle
Plans to split UK market into energy pricing zones dropped
The Energy Secretary had been considering proposals for zonal pricing that would see different areas of the country pay different rates for their electricity, based on local supply and demand. But the Government has now decided to retain a single national wholesale price. Energy Secretary Ed Miliband said: 'Building clean power at pace and scale is the only way to get Britain off the rollercoaster of fossil fuel markets and protect families and businesses for good. 'As we embark on this new era of clean electricity, a reformed system of national pricing is the best way to deliver an electricity system that is fairer, more affordable, and more secure, at less risk to vital investment in clean energy than other alternatives.' Energy business SSE said the move provided 'much-needed policy clarity' for investors and consumers. Martin Pibworth, chief executive designate of SSE, said: 'This decision brings welcome clarity and enables us to get on with investing in and delivering critical clean energy infrastructure, in doing so transforming our energy system and supporting the UK Government's bold ambitions for clean power by 2030. 'Zonal pricing would have added risk at a time when the UK needed to accelerate its clean power transition, making energy bills more expensive. This decision reaffirms the UK as a world-leading renewables market, enabling the efficient delivery of the homegrown energy the country needs.' Gareth Stace, director-general at UK Steel, said the industry was pleased the Government had heeded warnings and ruled out the 'risky' proposal. 'Zonal pricing would have penalised existing industrial sites, driving up electricity prices, further damaging our ability to thrive, foster jobs, and undermining much needed investment in steelmaking. 'Electricity prices for the UK steel sector are among the highest in Europe. UK Steel warned that zonal pricing would have created a 'postcode lottery' for industrial power prices, conflicting with the Government's own ambition to reduce power costs for British industry. 'As the industry transitions fully to electric arc furnace technology, price competitiveness will become even more central to the sector's future. 'While today's decision provides clarity on the direction of electricity market reforms, the Government must ensure that the alternative to zonal pricing, reformed national pricing, supports rather than hinders industrial competitiveness.' Centrica chief executive Chris O'Shea said it was a 'common sense decision' and that the 'theoretical benefits never stacked up against the real-world risks' in potential zonal pricing. Ed Miliband's promise to cut bills by £300 was always a fantasy. This is what happens when you set yourself impossible climate targets and ignore the costs. In 2030 you'll be paying around £100 in your energy bill to pay wind farms literally to switch off when it's too windy. — Claire Coutinho (@ClaireCoutinho) July 10, 2025 Claire Coutinho, shadow secretary of state for energy security and net zero, said: 'Ed Miliband promised to cut energy bills by £300, but instead as I warned, bills are going up and it's increasingly obvious that this promise was a fantasy. 'The truth is that wind developers have Ed over a barrel because he set himself impossible wind targets, that means we'll be paying them billions of pounds extra, roughly £100 on bills by 2030, not to produce energy, but simply to turn off. 'Even Downing Street are waking up to the fact that Ed's net zero zeal is going to impose huge costs on bills and jobs as we lose businesses to more polluting countries with cheaper energy. That's bad for households, our economy and emissions.'
Leader Live
10-07-2025
- Business
- Leader Live
Plans to split UK market into energy pricing zones dropped
The Energy Secretary had been considering proposals for zonal pricing that would see different areas of the country pay different rates for their electricity, based on local supply and demand. But the Government has now decided to retain a single national wholesale price. Energy Secretary Ed Miliband said: 'Building clean power at pace and scale is the only way to get Britain off the rollercoaster of fossil fuel markets and protect families and businesses for good. 'As we embark on this new era of clean electricity, a reformed system of national pricing is the best way to deliver an electricity system that is fairer, more affordable, and more secure, at less risk to vital investment in clean energy than other alternatives.' Energy business SSE said the move provided 'much-needed policy clarity' for investors and consumers. Martin Pibworth, chief executive designate of SSE, said: 'This decision brings welcome clarity and enables us to get on with investing in and delivering critical clean energy infrastructure, in doing so transforming our energy system and supporting the UK Government's bold ambitions for clean power by 2030. 'Zonal pricing would have added risk at a time when the UK needed to accelerate its clean power transition, making energy bills more expensive. This decision reaffirms the UK as a world-leading renewables market, enabling the efficient delivery of the homegrown energy the country needs.' Gareth Stace, director-general at UK Steel, said the industry was pleased the Government had heeded warnings and ruled out the 'risky' proposal. 'Zonal pricing would have penalised existing industrial sites, driving up electricity prices, further damaging our ability to thrive, foster jobs, and undermining much needed investment in steelmaking. 'Electricity prices for the UK steel sector are among the highest in Europe. UK Steel warned that zonal pricing would have created a 'postcode lottery' for industrial power prices, conflicting with the Government's own ambition to reduce power costs for British industry. 'As the industry transitions fully to electric arc furnace technology, price competitiveness will become even more central to the sector's future. 'While today's decision provides clarity on the direction of electricity market reforms, the Government must ensure that the alternative to zonal pricing, reformed national pricing, supports rather than hinders industrial competitiveness.' Centrica chief executive Chris O'Shea said it was a 'common sense decision' and that the 'theoretical benefits never stacked up against the real-world risks' in potential zonal pricing. Ed Miliband's promise to cut bills by £300 was always a fantasy. This is what happens when you set yourself impossible climate targets and ignore the costs. In 2030 you'll be paying around £100 in your energy bill to pay wind farms literally to switch off when it's too windy. — Claire Coutinho (@ClaireCoutinho) July 10, 2025 Claire Coutinho, shadow secretary of state for energy security and net zero, said: 'Ed Miliband promised to cut energy bills by £300, but instead as I warned, bills are going up and it's increasingly obvious that this promise was a fantasy. 'The truth is that wind developers have Ed over a barrel because he set himself impossible wind targets, that means we'll be paying them billions of pounds extra, roughly £100 on bills by 2030, not to produce energy, but simply to turn off. 'Even Downing Street are waking up to the fact that Ed's net zero zeal is going to impose huge costs on bills and jobs as we lose businesses to more polluting countries with cheaper energy. That's bad for households, our economy and emissions.'
The National
10-07-2025
- Business
- The National
UK Government officially scraps zonal energy pricing
The Energy Secretary had been considering proposals for zonal pricing that would see different areas of the country pay different rates for their electricity, based on local supply and demand. But the Government has now decided to retain a single national wholesale price. Energy Secretary Ed Miliband said: 'Building clean power at pace and scale is the only way to get Britain off the rollercoaster of fossil fuel markets and protect families and businesses for good. READ MORE: North Sea oil firms warned of fines over delays to well decommissioning 'As we embark on this new era of clean electricity, a reformed system of national pricing is the best way to deliver an electricity system that is fairer, more affordable, and more secure, at less risk to vital investment in clean energy than other alternatives.' Energy business SSE said the move provided 'much-needed policy clarity' for investors and consumers. Martin Pibworth, chief executive designate of SSE, said: 'This decision brings welcome clarity and enables us to get on with investing in and delivering critical clean energy infrastructure, in doing so transforming our energy system and supporting the UK Government's bold ambitions for clean power by 2030. 'Zonal pricing would have added risk at a time when the UK needed to accelerate its clean power transition, making energy bills more expensive. This decision reaffirms the UK as a world-leading renewables market, enabling the efficient delivery of the homegrown energy the country needs.' Gareth Stace, director-general at UK Steel, said the industry was pleased the Government had heeded warnings and ruled out the 'risky' proposal. 'Zonal pricing would have penalised existing industrial sites, driving up electricity prices, further damaging our ability to thrive, foster jobs, and undermining much needed investment in steelmaking. 'Electricity prices for the UK steel sector are among the highest in Europe. UK Steel warned that zonal pricing would have created a 'postcode lottery' for industrial power prices, conflicting with the Government's own ambition to reduce power costs for British industry. 'As the industry transitions fully to electric arc furnace technology, price competitiveness will become even more central to the sector's future. 'While today's decision provides clarity on the direction of electricity market reforms, the Government must ensure that the alternative to zonal pricing, reformed national pricing, supports rather than hinders industrial competitiveness.' READ MORE: Thousands of acres of new native woods planned for Highlands Centrica chief executive Chris O'Shea said it was a 'common sense decision' and that the 'theoretical benefits never stacked up against the real-world risks' in potential zonal pricing. Claire Coutinho, shadow secretary of state for energy security and net zero, said: 'Ed Miliband promised to cut energy bills by £300, but instead as I warned, bills are going up and it's increasingly obvious that this promise was a fantasy. 'The truth is that wind developers have Ed over a barrel because he set himself impossible wind targets, that means we'll be paying them billions of pounds extra, roughly £100 on bills by 2030, not to produce energy, but simply to turn off. 'Even Downing Street are waking up to the fact that Ed's net zero zeal is going to impose huge costs on bills and jobs as we lose businesses to more polluting countries with cheaper energy. That's bad for households, our economy and emissions.'
