Energy-intensive businesses in the UK could be missing out on thousands of pounds in compensation under a £196 million a year state aid subsidy scheme allowing them to claim relief from the indirect costs of renewable energy.
The Department for Business, Energy and Industrial Strategy (BEIS) operates the Energy Intensive Industries (EII) compensation scheme, with current rates allowing businesses to apply for over £30,000 per GWh of consumption. A typical medium-sized business could get over £300,000 a year.
This rebate will continue year on year, and could increase depending on the overall level of subsidy recovered through electricity bills. The scheme aims to help UK businesses remain competitive internationally.
Yet many eligible businesses are missing out because they incorrectly believe that they don’t qualify. They must work with government departments to understand the technical and accounting data, in order to put together an application that will pass an auditor’s detailed checks.
If you think your business might be missing out on compensation, find out how you can apply here.
All data and figures referred to in our news section are correct at the date of publishing and should not be relied upon as still current.
