Energy: Prices
(asked on 16th April 2024) - View Source
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 15 November 2023 to Question 1306 on Energy: Prices, if she will make an (a) estimate of when the Supercharger proposals will be fully implemented and (b) an assessment of the potential impact of their full implementation on the international competitiveness of UK electricity costs.
Answered by
Alan Mak
Minister of State (Department for Business and Trade) (jointly with the Cabinet Office)
The government committed to implementing the Supercharger measures between April 2024 and April 2025. The 4 statutory instruments that enact the Supercharger came into force on 1 April and the first measure has been implemented. The second measure will be implemented from 1 October and the final measure will be implemented from April 2025.
Taken together, the government estimates that Government support on electricity prices for Energy Intensive Industries (EIIs) in the form of the British Industry Supercharger could be worth (on average) around £24-£31 Per MegaWatt Hour (MWh) for eligible businesses, closing the competitive gap with their international competitors.