Various business sectors will benefit from the scheme, such as automotive, steel, aerospace, pharmaceuticals, even recycling.
The scheme is set to commence 1st April 2027, whereby eligible businesses will obtain relief from several non-commodity costs including Renewables Obligation, Feed-in-Tariff levy and the Capacity Market, which is worth upto £35-40/MWh (equivalent to 3.5p to 4p/kWh).
Unlike the Energy Intensive Industries scheme (EII) which is funded via a premium payable by all other bill-payers, BICS in understood to be funded through a combination of alterations to the energy system and Exchequer funding, therefore non-eligible businesses won’t be picking up the tab.
Eligible businesses will also receive a one off payment in 2027, which is to reflect the support eligible businesses would have received had the BICS been in operation from April 2026.
More detailed information regarding the SIC codes and eligible products are available on the government website however we are also led to believe this may not be a finalised and fully comprehensive list.
If you require any help or wish to discuss this further, please speak to one of our account managers on 0800 040 70 90.
