UK working on support for energy-intensive industries, minister says

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LONDON, October 10 (Businesshala) – Britain is working to support energy-intensive industries hit by rising gas prices, Trade Minister Kwasi Quarteng said on Sunday, describing the situation as dire and whether action was being considered. Is.

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Producers in steel, glass, ceramics and paper and other sectors have said they may be forced to halt production unless the government does something about energy prices.

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Asked about the possibility of the factory closing, Quarteng told the BBC: “It is clearly a serious situation.”

In a separate interview with Sky News, he said: “We’ve got very, very high gas prices, very high electricity prices, we already have support for the industries, and we’re looking at ways that we can help the industry.” be able to help.”

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He said that he is working with Finance Minister Rishi Sunak on the matter.

Asked whether there might be an energy price range for industrial users rather than for consumers, he told Times Radio: “It’s not something we’ve talked about.”

“We’re not in the business of bailouts. What we’re in is ensuring the security of supplies and that’s what I’m focused on.”

Wholesale gas prices in Europe are up 400 percent this year, partly due to lower stocks and stronger demand from Asia.

Reporting by William James; Editing by Jason Neely

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