Story perspectives

Rising Energy Costs Threaten UK Industry Competitiveness by 2030

2/12/2026

Summary

Story summary

British energy prices are projected to rise by 2030, according to Chris O’Shea, CEO of Centrica.
He cites higher infrastructure upgrade costs after years of underinvestment.
Government funding for Scunthorpe’s steelworks and Ineos’s chemicals plant is seen as temporary.
Despite shifting some costs to general taxation, businesses still face some of the highest industrial electricity prices.
The Chemical Industries Association warns high costs threaten competitiveness and could trigger closures.

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Story summary

British energy prices are projected to rise by 2030, according to Chris O’Shea, CEO of Centrica.
He cites higher infrastructure upgrade costs after years of underinvestment.
Government funding for Scunthorpe’s steelworks and Ineos’s chemicals plant is seen as temporary.
Despite shifting some costs to general taxation, businesses still face some of the highest industrial electricity prices.
The Chemical Industries Association warns high costs threaten competitiveness and could trigger closures.