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Department for Business and Trade: Contingent Liability Notification
02 July 2025
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
The statement discusses a contingent liability guarantee being provided to Npower in support of British Steel Limited.
Action Requested
A new guarantee is replacing existing credit support for British Steel Limited's payment obligations to Npower, ensuring better terms and reduced public expenditure. I will be laying a Departmental Minute today with details of the liability undertaken.
Key Facts
- The contingent liability guarantee supports British Steel Limited under the Steel Industry (Special Measures) Act 2025.
- It ensures that British Steel Limited can access bespoke rates on favourable terms.
- The guarantee will terminate if the Act ceases to apply or directions are revoked for British Steel Limited.
- A Departmental Minute containing details of the liability undertaken will be laid today.
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