UK Government supports British steelmaking revitalization with energy cost relief

The UK Government has engaged industry leaders to support the revitalization of British steelmaking amid global tariff concerns. At the recent Steel Council meeting, Industry Minister Sarah Jones announced the implementation of the Network Charging Compensation (NCC) scheme aimed at reducing energy costs for steel companies. The first payments from the NCC will be made next month, providing over £15 million in energy price relief in May, with total reduced electricity prices expected to reach between £320 million and £410 million by 2025, and over £5 billion in the next decade.