Business news and discussion on TalkFuse.
Burnham’s energy costs battle confronts net zero pressure
Andy Burnham faces pressure to lower energy costs for households and businesses while maintaining Labour’s net zero commitments. The article describes a shift towards prioritising affordability, with ministers weighing support for industry against climate targets ahead of Burnham’s meetings at COP 31 and with European leaders.
Ministers are considering whether to approve the Rosebank oil field, reduce electric vehicle sales targets and revise the goal of removing almost all fossil fuels from electricity by 2030. Around 10,000 energy-intensive businesses are due to receive electricity bill discounts of up to 25 per cent from April, while UK firms are reported to pay four times as much for electricity as US companies and roughly twice as much as European counterparts. MPs and energy observers have called for policy costs and levies to be removed from electricity bills.
In short
- Burnham faces a trade-off between cheaper energy and net zero commitments.
- UK manufacturers pay far more for electricity than US and European rivals.
- Ministers are weighing subsidies, fossil fuel projects and climate targets.