BICS Applications Are Now Open: Could Your Business Cut Electricity Costs by Up to 25%?

For energy-intensive manufacturers, electricity can be a significant operating cost. With BICS applications now open, eligible businesses could reduce their electricity costs by up to 25% and receive up to a year’s worth of backdated payments.

With industrial electricity prices continuing to challenge UK manufacturers, the British Industrial Competitiveness Scheme (BICS) could provide valuable support for qualifying businesses.

So what is BICS? BICS provides eligible manufacturers with exemptions from certain policy costs included in their electricity bills, including:

• Renewables Obligation (RO)
• Feed-in Tariffs (FiT)
• Contracts for Difference (CfD)

For businesses with high electricity consumption, these exemptions could deliver significant savings.

Who could benefit? Eligibility depends on factors including your business activities and the products you manufacture.

There are three key areas need to be considered:

• SIC codes. Do your business activities fall within the relevant eligible categories?
• HS6 product codes: Which of your manufactured products could qualify? Getting these codes wrong could affect both eligibility and the level of support available.
• Energy data: Accurate electricity consumption data is needed to support your application.

It’s also important not to rule your business out too early. Partial eligibility may be possible, even if only some of your products qualify.

At GLEG, we’re supporting manufacturers through the BICS application process, from SIC and HS6 code analysis through to preparing the required energy data. If you’re unsure whether your business or products could qualify, we can help you understand your position and what evidence you’ll need.

Applications close on 30^th November so now is the time to review your eligibility and start preparing your application.

Could your business benefit from BICS? Get in touch with the GLEG team to discuss your position at [email protected]