Up to 2 million jobs across the UK can be secured bringing £100m to UK local towns and cities across the country
But Govt needs to review electricity costs if businesses are to move forward
Electrify Industry, powered by Make UK, launched last night in the Houses of Parliament when some of Britain’s most innovative industrial companies came together to help industry electrify.
Leading the electrification charge in the room were AMP Clean Energy, Siemens, Schneider, Babcock Wanson, Brush Group, Confederation of Paper Industry, Spirax Sarco, GEA, Renewable UK and Numatic.
Manufacturers are being held back from moving towards electrification because of inflated electricity prices. But if industrial electricity prices were to be addressed effectively Electrify Industry’s ’s data indicates that up to 2million new jobs can be secured across the UK, delivering £100 billion in value to local towns and cities across the country.
The price of electricity in the UK is the highest in the OECD – three times those in France, 60% more than in Germany and four times those in the USA. This is no longer tenable, but government is currently looking at policy options to reduce the price for companies that electricity switch.
Laura Sandys, Chair of Electrify Industry said:
“The correct environment will enable Britian’s industrial powerhouse to train thousands of engineers which will be critical in delivering the Government’s growth and Net Zero aims. Getting Industrial electrification right will drive growth in UK manufacturing across the board, helping to secure Britian’s industrial future on the international stage as drivers of world-leading products.
“Grid connectivity remains a huge issue, with £3 billion of investment sitting in a queue. These are real jobs, productivity gains, companies that need to modernise all waiting for years before they get the green light to invest when they are finally able to connect.
“To make this electrification revolution a reality, electricity prices need to be competitive with other energy sources available to manufacturers and importantly other global competitors. If Britain’s industrial base is to be maintained in a meaningful way, this is a critical step which will unlock potential and growth across multiple sectors and supply chains.”
Sarah Coombes, MP for West Bromwich, who also spoke at last night’s event, added:
“As the MP for West Bromwich, I am proud to represent a constituency that is still very much a manufacturing powerhouse.
“That’s why I support the move to electrify industry, which will bring jobs and investment into the industrial heartlands of this country, as well as bolstering this government’s ambitious growth and clean power missions.”
