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<p>We recognise that industrial consumers currently pay higher electricity prices
than elsewhere in the EU. No specific assessment has been made on the impact of electricity
price differential on UK steel sector’s competitiveness.</p><p> </p><p>The ability
of our steel industry to compete globally and across Europe is a priority for this
Government. We therefore provide electricity cost compensation and exemption support
to maintain the UK’s reputation as an attractive location for these businesses.</p><p>
</p><p>We have a number of funds available to energy intensive industries, including
steel, to help them increase energy efficiency and transition to a low carbon future.
These funds include the £315 million Industrial Energy Transformation Fund, the Industrial
Heat Recovery Support Programme and the recently announced £250 million Clean Steel
Fund.</p>
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