【SMM Steel】UK steelmakers warn of energy cost crisis

Published: Apr 22, 2026 15:23

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【SMM Steel】UK steelmakers face a severe disadvantage as electricity prices are 77% above France/Germany, widened by the Middle East conflict. UK costs are £84/MWh vs £48 in France and £65 in Germany, creating an £82m annual burden. While BICS assists supply chain segments, it fails to help primary steelmakers exposed to high wholesale rates. UK Steel urges a wholesale price rebalancing mechanism. Without intervention, decarbonization projects and the Steel Strategy are at risk.

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