Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, if he will set out the terms of reference for the consultation on the British industrial competitiveness scheme.

From 2027, the new British Industrial Competitiveness Scheme (BICS) will reduce electricity costs by c.£35-40/MWh for thousands of eligible businesses. These firms will be exempt from paying levies on the Renewables Obligation, Feed-in Tariffs and the Capacity Market.

We announced that we would consult on eligibility and design of the scheme. We recognise the need to work quickly and we will publish the consultation and Terms of Reference as soon as we can. We have committed to ensure that the scheme is ready to launch in 2027.