PwC has praised the UK’s newly unveiled Industrial Strategy, calling its energy-related reforms a game-changer for domestic manufacturers. Key measures include raising network charging compensation to 90% and extending the indirect compensation scheme. Energy-intensive sectors like steel will also benefit from targeted exemptions.
PwC highlighted that the reforms address two major challenges: high electricity prices and long grid connection delays. These changes are expected to enhance competitiveness and support industrial growth amid volatile global energy markets.
However, PwC also noted that chronic underinvestment remains a structural issue. The UK faces a ÂŁ2 trillion investment gap compared to other G7 nations, and while the strategy is a step forward, sustained capital inflows will be essential to drive long-term productivity and wage growth.
