Asked by: Claire Coutinho (Conservative - East Surrey)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether the new British Industrial Competitiveness Scheme will be funded through a) the Exchequer, b) energy suppliers or c) another source.
Answered by Chris McDonald - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
As stated in the Modern Industrial Strategy, the Government intends to fund the British Industrial Competitiveness Scheme by bearing down on costs across the energy system to ensure that the scheme is delivered in line with our wider priorities to deliver affordable power for businesses and households. For example, the proposals in the Department for Energy Security and Net Zero's recent consultations on changes to inflation indexation of the Renewables Obligation and Feed-In Tariffs schemes, if implemented, could contribute to that goal.
Asked by: Claire Coutinho (Conservative - East Surrey)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what proportion of total UK electricity consumption is used by businesses eligible for the British Industry Supercharger.
Answered by Sarah Jones - Minister of State (Home Office)
The British Industry Supercharger was launched in 2024 and provides support to over 450 companies in energy intensive industries with some of the highest electricity costs.
The government estimates that support on electricity prices for EIIs in the form of the Supercharger could be worth (on average) around £24-£31 Per MegaWatt Hour (MWh) for eligible businesses.