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A scheme which gives businesses tax breaks for investing in energy efficiency is being extended for another six years, the UK government has said.
The Climate Change Agreement (CCA) scheme will provide £310 million in savings a year to help energy-intensive industries reduce energy use and emissions, officials said.
Under the voluntary scheme, businesses are encouraged to implement measures to cut energy or carbon, to allow them to receive a discount on the Climate Change Levy (CCL) which is a tax added to firms’ electricity and fuel bills.
The scheme applies to more than 50 sectors, ranging from food and drink to plastics and motor manufacturing, and officials said it would provide them with long-term certainty to plan and invest in energy efficiency and decarbonisation projects.
Industry minister Sarah Jones said: ‘The extension of the Climate Change Agreement scheme is a critical step in supporting our energy-intensive industries as we transition to a low-carbon economy.
‘By providing £310 million a year in savings, we are enabling businesses to invest in energy efficiency and decarbonisation projects, which will strengthen their competitiveness while advancing the UK’s path to net zero.
‘This is not only an investment in cleaner technologies but also in the long-term resilience and success of our industries.’
By Emily Beament, PA Environment Correspondent
Press Association: Finance
source: PA
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