British Businesses to Save over £400m a Year as Government Slashes Electricity Costs

Government slashes electricity costs to save British businesses over £400m a year from April 2026 through landmark support under the UK’s modern Industrial Strategy.

UK industry including steel, chemicals, cement, glass and paper employing around 400,000 people to benefit from 90% discount on their electricity network charges.

Unprecedented support brings UK industrial energy costs in line with European competitors to protect jobs and attract new investment, helping drive growth and deliver Plan for Change.

Around 500 of the UK’s most energy-intensive businesses are set to save up to £420 million per year on their electricity bills from next April, as the Government takes decisive action to slash industrial energy costs.

Business Secretary Peter Kyle has today (31 October) announced th