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UK steel sector crippled by power costs as Brexit looms

Reuters  |  LONDON 

By Maytaal AngelLONDON (Reuters) - British steelmakers pay twice as much for electricity as their French competitors and 50 percent more than their German rivals, an industry report showed on Wednesday, piling pressure on the sector as Britain prepares to leave the European Union. The report, commissioned by industry group UK Steel, shows the disparity between UK electricity prices and those in EU countries has increased for a third consecutive year, crippling energy-intensive sectors such as steel.It comes ahead of Britain's looming EU exit on March 29, which could hit UK manufacturing hard ...

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First Published: Wed, December 05 2018. 06:45 IST