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29 Nov 2011
THE CHANCELLOR has unveiled further reductions to environmental levies for the most energy intensive businesses in his latest Autumn Statement.
Energy intensive businesses which previously received an 80% discount on the Climate Change Levy (CCL) will now see this increase to a 90% discount from April 2013.
Further reading
Currently, every business must pay a levy on electricity used directly to its energy supplier. However, all companies which agree with the government to reduce energy consumption receive an 80% discount. The government has now increased that discount to 90%.
The Department for Energy and Climate Change (DECC) has spent the past few years incentivising businesses to make their operations environmentally friendly by discounting levies by 80% if they sign up to a climate change agreement.
The government estimates that the increased discount will cost £75m over four years to 2016/2017.
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