British Steel Corporation

HC Deb 09 March 1984 vol 55 cc731-2W

Mr. Hickmet

asked the Secretary of State for Trade and Industry if he will estimate the effect on the British Steel Corporation's costs of it being free to purchase its coal requirements on the world market from suppliers of its own choice.

Mr. Butcher

The British Steel Corporation suffers no cost penalty in buying coal from United Kingdom suupliers since such supplies are obtained at prices comparable to those charged on the world market.

Mr. Hickmet

asked the Secretary of State for Trade and Industry if he will estimate the effects on the British Steel Corporation's costs of a 15 per cent. reduction in its electricity costs.

Mr. Butcher

A 15 per cent. reduction in the British Steel Corporation's direct electricity costs—estimated to be £175 million in 1983–84—would amount to a saving of about £26 million a year.