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Reports that operations at British Steel will be maintained as talks on the huge energy price issue are formalised have been welcomed.

Earlier this month it emerged jobs could be at risk as viability of operations is tested by the soaring gas charges.

Hugely energy intensive, a package of financial support is understood to be sought, with the Chinese-owned company calling for a level playing field with global competitors.

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While British Steel declined to enter into the speculation on jobs, reported by Sky News, it was taken seriously by key stakeholders, with 4,000 employed company-wide, and 3,000 in North Lincolnshire alone.

Updating on the situation, Holly Mumby-Croft, Scunthorpe MP - who told Business Live how talks were being initiated after the speculation emerged - said: “The good news is that the Government and British Steel are still continuing their conversations and they both remain committed to doing so. There is only so much the parties involved can say at this stage and these things take time, but the government have confirmed that they are still at the table and British Steel have confirmed that they will maintain operations while negotiations are ongoing. I’m pleased that we are still seeing co-operation and good will - this is crucial.

“Of course, we still have a lot of work to do. The government has consistently shown support for the steel industry from maintaining safeguards to paying the wages of steel workers in our area. Over £780 million of support had gone into steel in the last 10 years.

“This is such an important issue for us locally and as someone who has lived in North Lincolnshire my entire life and grown up the granddaughter of steelworker, I know how important this is for the entire local economy. I want to reassure residents that I’m not going to let up on this and that I am continuing to work with the Government and British Steel to reach a solution.”