UK Steel - Changes to Inflation Indexation in the Feed in Tariffs / Renewables Obligation schemes

UK Steel supports the Government’s proposal to move inflation indexation in the Feed-in Tariffs and Renewables Obligation schemes from RPI to CPI, recognising CPI as a more accurate and internationally recognised measure of inflation that avoids systematic overcompensation of generators. Lower electricity costs are essential to enabling UK steelmakers to invest in decarbonisation and compete internationally, aligning the reform with the Government’s wider objectives on energy affordability, industrial resilience and net zero.