Electricity costs put UK steelmakers in worst position in three years against EU rivals

British steelmakers are facing a widening cost gap with European rivals as electricity prices surge, with the premium over French competitors now nearing £30 per megawatt hour—the highest in recent years. The spike is linked to global gas price increases triggered by geopolitical tensions, including the US-Israeli conflict over Iran, which has further strained British industry competitiveness. Industry lobbyists warn the rising energy costs are deepening disadvantages for UK producers already struggling against cheaper European alternatives. The analysis highlights how international tensions are reshaping domestic economic challenges for manufacturers.

Premium paid over French counterparts has risen to almost £30 a megawatt hour, analysis by lobby group findsBritish steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices.The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour (MWh), its highest level in three years, according to analysis by the lobby group UK Steel. Continue reading...