UK Industrial Electricity Prices Surge to 25.85 Pence, 4X Higher Than US, Amid Net Zero Agenda

Sep 27, 2024, 07:38 AM

New data released by the UK Government reveals that British companies are paying the highest industrial electricity prices in the developed world. The cost of electricity for industrial businesses in the UK is now four times higher than in the US and 46% above the IEA median. Over the past five years, electricity costs in the UK have more than doubled, reaching 25.85 pence (£0.2585) per kilowatt-hour, compared to 6.48 pence (£0.0648) per kilowatt-hour in the USA. This surge in prices is attributed to the net zero agenda.