business / news / / The Sunday Times
British industry paid £168 per megawatt hour (MWh) in 2024, more than double the cost for French firms at £69/MWh.
OpenAI halted plans for a UK data centre due to Britain's high industrial energy costs.
KEY POINTS
- British industry pays £168/MWh for electricity, over four times the price in Texas.
- Policy levies add £61/MWh to UK industrial bills, compared to £2/MWh in France.
- South Korea builds nuclear power plants six times cheaper than the UK due to fewer regulations.
- Switching to a zonal electricity pricing system could significantly reduce power costs in industrial regions.
COMPANIES
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