TaxAdministrationEnergy companies rebuff govt’s £1bn poverty scheme

Energy companies rebuff govt’s £1bn poverty scheme

Business minister drafted in battle to talk energy companies into signing up for £1bn fuel poverty scheme

Government ministers are facing an uphill battle in its attempt to persuade
the six biggest energy companies in the UK to sign up for a £1bn fuel poverty
package understood to be announced later this week.

Baroness Vadera, the business minister, was drafted to the negotiations after
the four foreign-owned energy companies refused to commit voluntarily to provide
the funds, the Financial Times reports.

The energy companies are split over a proposed £150m levy on the industry for
carbon permits under the European emissions trading scheme over the coming five
years, totalling £750m to finance the measures.

Centrica, which owns
British Gas, and
Scottish and Southern
Energy
have given their agreements in principle but Npower and Eon, both
owned by German companies; EDF, the French group; and Scottish Power, owned by
Iberdrola, the Spanish energy group, have refused to sign up.

Further reading:

MPs break ranks over windfall tax

Windfall tax in the pipeline for energy companies?

Read
the Financial Times story

Related Articles

Paul Morton, Tax Director, Office of Tax Simplification

Administration Paul Morton, Tax Director, Office of Tax Simplification

4m Emma Smith, Managing Editor
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

5m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

6m Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

6m Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

8m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

8m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

8m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

2y Fraser Simpson, Reporter