Do you have an energy intensive business? Are you currently receiving compensation for energy policy costs from the Energy Intensive Industries Compensation Package? Are you ready for the implementation of the exemption from the Contracts for Difference and Renewables Obligation policy costs?
In the past few years, government has consulted on and implemented a number of relief measures to support energy intensive industries with the increased energy costs due to UK energy policy. This is an important relief package in light of the high energy prices that UK firms, particularly energy intensive firms face, and the risks this presents to the energy intensive firms most exposed to international competition. This relief package intends to help improve the disparity between UK and international energy prices for eligible companies.
The legislation to implement the exemption form up to 85% of the indirect costs of the Contracts for Difference and Renewables Obligation policies are currently in the process of being approved by Parliament. In anticipation of the implementation of this exemption, EEF and the Department for Business, Energy and Industrial Strategy talk you through the current status of the exemptions, what to expect, eligibility, the process to implement the exemption, and what you need to do to ensure you receive the exemption if you are an eligible company.