WIREDGOV

Internationally owned, high volume energy intensive companies based in Wales have repeatedly told Welsh Government Ministers of their concerns about the impact of high UK energy prices on their business.

The First Minister will chair a special meeting at the Welsh Government’s offices in London with representatives of energy intensive businesses in Wales.

Those attending the talks include Tata Steel, Celsa Steel, UPM, Solutia, International Rectifier Corporation, Next Generation Data, Dow Corning Ltd, Murco Petroleum, the CBI and Wales TUC.

Speaking before the meeting, the First Minister said:

“Everyone recognises that the economy is facing an extremely challenging time as a result of the double-dip recession and the uncertain global economic climate.

“In such an environment it is imperative we do all we can to encourage growth in our economy and help our businesses. An issue continually raised with me by Wales based manufacturers is the high price of energy in the UK.

“This is particularly so for those industries producing internationally traded goods who tell me that energy prices are simply too high when compared with other parts of Europe and this impacts on their ability to remain competitive.

“I have called this meeting to bring together representatives of Wales based industry to discuss the issue. Energy intensive industry operations include manufacturing and the petrochemical sectors, which are key contributors to the Welsh economy and I have raised this important matter with the UK Government on a number of occasions.

“The UK Government has yet to consult on measures to deliver support to the most energy intensive industries from mid 2013. However, it is increasingly clear that support to compensate these industries from the effects of uniquely high UK energy costs – particularly for electricity – is absolutely vital to help them through this sustained period of economic uncertainty and ensure they are able to compete in the global marketplace.”