24 Nov British Industrial Competitiveness Scheme (BICS) Consultation – now open
British Industrial Competitiveness Scheme (BICS) Consultation – now open
The British Industrial Competitiveness Scheme (BICS) 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.
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 Department for Business & Trade (DBT) put in place is workable for businesses and that support is directed to where it will have the biggest impact on economic growth, they 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 access it here.