UK working on support for energy-intensive industries, minister says
Normal view of an electrical energy pylon close to Ellesmere Port, Britain, September 27, 2021. REUTERS/Phil Noble/File Picture
LONDON, Oct 10 (Reuters) – Britain is figuring out learn how to help energy-intensive industries hit by hovering gasoline costs, enterprise minister Kwasi Kwarteng stated on Sunday, describing the scenario as vital however declining to say what motion is being thought of.
Producers of metal, glass, ceramics and paper and different sectors have stated they could be pressured to halt manufacturing until the federal government does one thing about vitality costs.
“It is a vital scenario clearly,” Kwarteng informed the BBC, when requested about attainable manufacturing unit closures.
In a separate interview with Sky Information he stated: “We have very, very excessive gasoline costs, very excessive electrical energy costs, we have already got help in place for industries, and we’re ways in which we can assist business.”
He added he was working with finance minister Rishi Sunak on the matter.
Requested if there could be an vitality value cap for industrial customers like there’s for customers, he informed Occasions Radio: “That is not one thing that we have talked about.”
“We’re not within the enterprise of bailouts. What we’re within the enterprise of is making certain safety of provide and that is what I am centered on.”
Wholesale gasoline costs have elevated 400% this 12 months in Europe, partly attributable to low shares and robust demand from Asia.
Reporting by William James; enhancing by Jason Neely
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