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Trade unions are urging government intervention after Tata Steel’s new electric arc furnace grid connection faces a potential year-long delay caused by engineering difficulties and ground conditions.
Britain’s manufacturing sector faces collapse as companies struggle with energy costs twice those of continental Europe, with nearly a quarter relocating production overseas, according to industry surveys.
The Financial Conduct Authority closed a 10-month investigation into Drax’s sustainability claims, finding no evidence to justify further action after reviewing complex sourcing materials.
A European heatwave has driven electricity prices to multi-year highs across the continent as soaring demand for cooling collides with reduced renewable energy generation and power plant outages.
Great Britain’s electricity network rewiring costs have risen 50% to potentially £90bn in the 2030s, according to the government-owned energy system operator’s updated forecast.
A consortium led by billionaire Michał Sołowow plans to invest £35bn in 14 small modular nuclear reactors across three UK sites, with potential power generation beginning in 2034.
