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Lord Offord of Garvel (Con)

Speaking in the House of Lords on 6 May 2025

Debate

Energy Prices: Energy-intensive Industries

Contribution

My Lords, the UK has the highest industrial electricity prices in the OECD. We have discussed this many times in your Lordships’ House. Our prices are 45 times more expensive than in the USA and seven times more expensive than in China. Without cheap energy we are deindustrialising through the back door. Just last week, on 1 May, the Times reported that: “Three in five British companies have said that ‘rising and unstable’ energy costs are undermining growth plans”. So will the Minister please listen to the advice of industry, and reconsider this accelerated plan to decarbonise the grid at any cost to prevent more British jobs being lost in our flagship energy-intensive industries?

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