business energy efficiency tax

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By Paul Davies and Alice Gunn

It has been announced in today’s Budget that the CRC Energy Efficiency Scheme (CRC) will be abolished from 2019 and the Climate Change Levy (CCL) will be raised to compensate.

The announcement comes following a consultation last year on reforming the business energy efficiency tax landscape, run by HM Treasury and the Department of Energy and Climate Change (DECC).

CRC

CRC is a mandatory carbon emissions reporting and pricing scheme that came into force on 1 April 2010. It applies to large public and private sector organisations in the UK that use more than 6,000MWh per year of electricity and have at least one half-hourly meter settled on the half-hourly electricity market.

By Michael Green

HM Treasury recently launched a consultation to seek views on its proposals to reform the business energy efficiency tax landscape, following the announcement by the Chancellor in the Summer Budget that energy policies and regulations would be subject to review.

The government is seeking feedback on what data should be collected and made publicly available, and whether new regimes, rates and incentives should require board level sign-off.