Yorkshire manufacturing firm sees factory energy bill triple in two years

Mr Turner said energy firms had a responsibility to pass on falling wholesale costs or risk putting companies out of business.

In comments provided to the media in advance of last night’s speech, he said: “My Sheffield factory’s energy costs were three times what they were in 2021 and are four times more than my Thai factory.

"We SMEs have no choice but to suck it up.

"Even though local firms are involved with supplying all aspects of the international energy infrastructure supply chain including nuclear, hydrogen, renewables and conventional power generation this does not make us immune from global events.

"It is getting better, especially on gas, but energy firms need to pass on savings in wholesale pricing or they will kill their golden goose.

"Manufacturers need stable power and competitive energy pricing now whilst there is national investment to meet green commitments.”

He also called for the cross-party development of a long-term national industrial strategy.

"Steel is the building block of the modern world. It is also a key component of defence. We believe it is critical that steel continues to be made in UK.

"It does not need to satisfy every demand but we do need to maintain our strategic capability and capacity, not least in the highly technical steels required to feed Sheffield’s very successful forging sector.

"Any pivot from steel will have a hugely negative implication and will

compromise a key UK strategic asset.”

The event for the Sheffield and South Yorkshire business community was hosted by Master Cutler Dame Julie Kenny, who is the second woman in the organisation’s 398 years to lead the company.

The event was also addressed by Maria Laine, the President of Boeing’s UK, Ireland and Nordic region.

She said: “Later this year, we will celebrate five years since the Boeing Sheffield factory opened to manufacture parts for 737 aircraft.

"Since then, the factory has produced more than 13,000 parts.

"We are incredibly proud to be so deeply ingrained in the advanced manufacturing ecosystem here in South Yorkshire.

"Sheffield’s history and its association with ‘quality products’ was what initially drew us to the area and today we reap the benefits of the significant skills and expertise in the local supply chain.

“All suppliers to Boeing Sheffield come from within 100 miles of the factory – a testament to the fact that we truly recognise the quality and expertise available here.

"While this is a scratch on the surface of Sheffield’s centuries-long manufacturing history, we are absolutely committed to supporting future growth and ensuring the industry continues to flourish.”