Lord Livermore (Lab)

The noble Lord is absolutely correct to say how important it is to do that. That is why we have taken further action to weaken the link. Last week, the Chancellor announced plans to weaken the link between high gas and electricity prices and to prevent spikes in energy prices from driving up inflation and costs for households. That is why the delinking steps that we have taken are so important. The Chancellor also announced the extension of the British industrial competitiveness scheme, which was a commitment in the industrial strategy. That will reduce electricity costs from April 2027 by around 25% for electricity-intensive manufacturing frontier sectors in the industrial strategy and foundational sectors in their supply chains. Last week, the Chancellor announced that over 10,000 businesses are now expected to benefit from the scheme, rather than 7,000 as previously planned. Eligible businesses will also benefit from a one-off backdated payment in 2027, covering the support firms would have received if the scheme had been in place from April 2026. The consultation on scheme design and eligibility was published last week.