UK Energy Support Plan Expands to 10,000 Firms, Cut Up to 25%

AI Summary

The UK government announced an expansion of the British Industrial Competitiveness Scheme (BICS) to assist 10,000 energy-intensive manufacturers starting April 2027. These firms could see energy bill reductions of up to 25%. The initial scheme targeted 7,000 companies, and the expansion aims to bolster Britain's economic resilience amid fluctuating energy prices. The total cost of supporting these businesses is estimated at £600 million. The move received mixed reviews, with industry leaders urging further efforts to tackle high electricity costs in comparison to international competitors.