LONDON, UK – April 9, 2025 — The UK government has unveiled new energy relief measures aimed at supporting domestic steelmakers during a critical industry meeting held today, bringing together key leaders such as British Steel, Tata Steel, and Liberty Steel.
The announcement was made during the second meeting of the Steel Council, where Sarah Jones, Minister for Industry, revealed that the Network Charging Compensation (NCC) scheme, part of the British Industry Supercharger package, will now be extended to the steel sector.
"This scheme will help bring energy costs for steel companies and other energy-intensive industries more in line with other major economies globally," Jones stated during the meeting.
Under the NCC scheme, the first payments will be made in May, providing over £15 million in energy price relief to businesses in the steel industry. The government expects that once the scheme is fully implemented, it will offer significant long-term savings.
The total value of reduced electricity prices for the steel industry is projected to be between £320 million and £410 million in 2025 alone, with cumulative savings exceeding £5 billion over the next decade.
The move is part of the UK government’s broader strategy to support energy-intensive industries as they navigate rising energy costs amid global market fluctuations. The relief is expected to help steelmakers maintain competitiveness while contributing to the country’s economic recovery and energy sustainability goals.
VietnamSteel by Hoa Sen Group
