L

Lord Harrington of Watford (Non-Afl)

Speaking in the House of Lords on 6 May 2025

Debate

Energy Prices: Energy-intensive Industries

Contribution

My Lords, I am chairman of Make UK, which represents 27,000 manufacturing businesses in the UK, which I think by mutual acclaim amount to between 10% and 15% of GDP. Our members are extremely worried because they face a 50% premium—at the absolute minimum—on the price of the electricity they have to pay compared to their competitors in Europe and elsewhere. The question to the Government is that industry prices are unregulated compared to consumer prices, and they are therefore much more open to the vagaries of the market. The Government have the industrial strategy, which, I hope, will be published in the next few weeks. Can the Minister reassure us that high energy prices and the uncompetitive nature that they provide for most of our members trying to export products and therefore grow the economy will be assisted in the industrial strategy?

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