British Industrial Competitiveness Scheme (BICS) Announcement

We have been asked to inform members by the DBT about a consultation on the British Industrial Competitiveness Scheme (BICS). This scheme is designed to reduce electricity costs for manufacturing businesses operating within the eight growth-driving sectors identified in the Industrial Strategy, as well as the foundational sectors that support them. We have identified you/your organisation as someone who may wish to provide feedback.

From 2027, the scheme is intended to exempt thousands of qualifying businesses from costs associated with the Renewables Obligation, Feed-in Tariffs, and the Capacity Market. As a result, participating businesses could see electricity cost reductions of approximately 20–25%. This initiative aims to bring GB industrial electricity prices more in line with European comparators.

To help ensure that the approach the DBT put in place is workable for businesses and that support is directed to where it will have the biggest impact on economic growth, the DBT will be gathering views through a consultation process. This consultation seeks views on how to determine which businesses within manufacturing frontier industries of the Industrial Strategy growth sectors, and manufacturing foundational industries in the frontier industries supply chains, should be eligible for the scheme.

 

 

To help ensure that the approach the DBT put in place is workable for businesses and that support is directed to where it will have the biggest impact on economic growth, the DBT will be gathering views through a consultation process. This consultation seeks views on how to determine which businesses within manufacturing frontier industries of the Industrial Strategy growth sectors, and manufacturing foundational industries in the frontier industries supply chains, should be eligible for the scheme.

The consultation is open until 19 January.  You can complete the survey by clicking the button below: