Steelmakers are facing electricity costs that are significantly higher than their European rivals.
Producers will pay up to 25 per cent more for power compared to France and Germany this year, according to a report by trade group UK Steel.
This will lead to an extra £26m in annual costs, leaving the industry with ‘a hand tied behind its back’.
Gareth Stace, director-general at UK Steel, said: ‘Uncompetitive power prices pose a threat to jobs, future investment, and our Net Zero ambitions.’
Increased prices: Steelmakers are facing electricity costs that are significantly higher than their European rivals
Talks between UK and US officials over steel tariffs have been reignited ahead of Donald Trump’s visit to the UK this week.
Steelmakers have faced 25 per cent tariffs from the US since March.
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