Are you in manufacturing and eligible to reduce electricity costs?
This week I’m highlighting a programme called the British Industrial Competitiveness Scheme (BICS). Announced as part of the Government’s Industrial Strategy, BICS will reduce electricity costs for eligible manufacturers.
BICS is targeted at manufacturing companies operating in the frontier industries of the Industrial Strategy growth sectors, referred to as the ‘IS-8’ , such as auto and aerospace and foundational industries such as chemicals which provide them with important inputs. With applications opening in October, now is a good time to explore what BICS could mean for your business.
This month sees the launch of two key resources designed to help businesses understand whether BICS may be relevant:
- An eligibility checker, allowing businesses to quickly assess whether they are likely to meet the scheme’s core eligibility criteria.
- Detailed guidance covering eligibility requirements, evidence requirements and how the application process will work.
If eligible, you can claim up to 25% off your electricity bill with the deduction coming into effect in 2027. Eligible businesses will also be able to access an additional payment in 2027 to reflect the support they would have received had the scheme been in operation earlier. Applications open from 1st October and close at 23:59 on 30th November with companies being notified in January 2027 if the application is successful. You can also find out more through webinars being hosted by BIST on 17th August , 9 September and 24 September
Starting this month, Department for Business, Innovation, Science and Trade is contacting companies it believes to meet the eligibility criteria based on relevant SIC codes via letters, plus engagement via trade bodies such as MakeUK, FSB, and British Chambers of Commerce.
If you are a manufacturer in one of the IS-8 or a foundational industry that provides important inputs to them, please consider applying or share this with companies for whom it may be relevant.
Emma