(Transcript of the speech, exactly as it was delivered)
Secretary of State Edward Davey, said on the consultation on energy intensive industries compensation scheme:
“It is important we ensure that as we move to a low-carbon economy, those industries that are more energy-intensive are not forced to relocate to other countries. This would not only have a negative impact on our economy, but could also result in us exporting emissions to countries that are not as strongly committed to cutting carbon emissions.
“Compensating the most electro-intensive industries will benefit our economy by retaining vital jobs and preserving our manufacturing base, whilst enabling our industries to grow and transition to a green economy.”