UK launches 10-year industrial strategy with push on clean power and digital
The UK is doubling investment in clean energy industries to more than £30bn a year by 2035 under its 10-year industrial strategy that launches today [23 June]. But the initial 22-page document is light on specific details, beyond ‘prioritising investment’ for the so-called IS-8 categories (advanced manufacturing, defence, clean energy, digital and technology, creative, financial services, life sciences, and professional and business services). The UK government claims the intervention will boosts 7,000 businesses that will see their electricity bills fall 25% from 2027, by up to £40 per megawatt hour. In particular, electricity-intensive manufacturing businesses will be exempt from paying levies such as the renewables obligation, feed-in tariffs and the capacity market, helping level the playing field and make them more internationally competitive. Eligibility and further details on the exemptions will be determined following consultation,… Read More »UK launches 10-year industrial strategy with push on clean power and digital