PwC reports that reducing UK industrial electricity prices closer to G7 levels could unlock up to £250bn in additional economic output over the next decade, strengthening energy security, critical infrastructure and growth sectors such as AI, advanced manufacturing and clean energy.
Key highlights from PwC’s recent report are:
• +£250bn in potential additional economic output over the next decade if the UK closes the industrial electricity price gap with G7 peers.
• 63% peak gap between UK industrial electricity prices and G7 peers in 2024.
• 72% of manufacturers say energy costs are a barrier to increasing investment.
• 30% potential reduction in the UK’s annual £60bn business energy costs.
Read more on their website.