UK's coal phase-out and Port Talbot steelworks closure reshape industry

The UK is witnessing a significant shift in its industrial landscape as it closes its last coal-fired power station and the final blast furnace at Port Talbot. This marks a pivotal moment in the country's transition away from fossil fuels, with the blast furnace being a remnant of the Industrial Revolution. The remaining steel production facilities are set to be replaced by electric arc furnaces, which are more environmentally friendly. However, this transition comes with challenges, as the UK faces some of the highest industrial power prices in the developed world, driven by a shift from coal to more expensive gas and renewable energy sources. This high cost of energy is contributing to the de-industrialisation of the UK, as industries relocate to countries with cheaper energy options. While the move towards cleaner energy is beneficial for reducing carbon emissions, it also raises concerns about job losses and economic output in the manufacturing sector.