UK Metal Industry Warns of Factory Closures and Mass Job Losses

Manufacturers that provide defense, cars, space and space sectors in Britain have warned that companies will collapse after the government approved energy fees have been set.

From October 1, permanent fees and fees on industrial electricity bills will start to rise sharply, with a complete increase in April. Energy brokers said that the costs other than commodities-the fees needed to use the network and financing-would constitute up to 65 % of the total corporate bills, regardless of the amount of electricity they consume.

For a company that pays 300,000 pounds annually for energy, permanent fees will jump from 32,000 pounds to 64,000 pounds. Companies will also be struck by a new imposition from November to finance the construction of the Sizewell C.

The British Minerals Union (CBM) has warned that the increases would actually wipe companies. “We will finally finish reaching zero by the lack of an industry. We will lose companies because of this, undoubtedly. They cannot bear this increase,” said Stephen Morley, the group’s president.

While heavy industries such as steel and ceramics benefit from supporting the intense energy industries, thousands of other companies are excluded in thermal and booked remedies and the manufacture of metal sheets. These companies constitute decisive links in national supply chains, but they have left costs to motivate competitors.

Tim Gyeet, who runs the Sheffield fingerprint tools-said the latest drop in the UK hand tools-his bills has doubled even before walking for long distances. He said: “Sixty percent of our energy costs do not pay for electricity itself. This is a mistake. This pays manufacturing abroad and makes us unemployed worldwide.”

The government insists that the fees are necessary to finance vital network promotions and secure the future of energy in Britain. A spokesman said: “We protect the intensive energy companies from the flying fossil fuel market. The only answer is the local, local force to drop the bills forever,” said a spokesman.

But brokers say that increased shock has been badly connected. “This has been dropped as a bomb,” said Liam Conway from Greenfields Energy Group. “Companies are left asking about the costs that they will have to bear before they see any benefit.”

Without procedure, the ministers themselves give up more closures. It is scheduled to consult about the alleged British industrial competitiveness scheme, but the details remain rare.