Electricity costs put UK steelmakers in worst position in three years against EU rivals

The Guardian UK Sunday 18 October 2026, 23:01 UTC By Jasper Jolly 1 min read

Key Points

Premium paid over French counterparts has risen to almost £30 a megawatt hour, analysis by lobby group findsBritish steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices. The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour (MWh), its highest level in three years, according to analysis by the lobby group UK Steel.

Premium paid over French counterparts has risen to almost £30 a megawatt hour, analysis by lobby group finds

British steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices.

The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour (MWh), its highest level in three years, according to analysis by the lobby group UK Steel.

UK (LOCATION) EU (ORG) Premium (ORG) French (ORG) European (ORG) US (LOCATION) Israeli (ORG) Iran (LOCATION) British (ORG) UK Steel (ORG)

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