Recommendation 24

Councillor Rob Waltham said there were several factors affecting the competitiveness of the UK steel sector, including high energy costs.67 The trade unions agreed that high energy costs were affecting several energy-intensive industries, including steel.68 University College London noted that decarbonising the steel sector would need more than just financing new technology, and that in other countries decarbonisation projects had been cancelled because of high energy costs and a lack of affordable green hydrogen.69 Councillor Rob Waltham told us that, without a business plan for Scunthorpe, the UK risked falling behind 63 Q 30 64 Q 55 65 Qq 78-81 66 Q 32 67 Qq 14-17 68 Qq 18-22 69 GBS00005 17 other countries that are already investing in these markets. Trade union witnesses also emphasised that future competitiveness would depend on wider government action on energy policy, procurement and trade rules.70