There is always excitement around a new discount scheme announcement, and you will be hearing about BIC from lots of companies right now. This guide will give you an overview of what we expect from the scheme compared to the existing Eii with NCC scheme.
The existing Eii Exemption and British Industry Supercharger (Network Charging Compensation) Scheme is designed for the most intensive electricity consumers only, it includes a company level intensity test to prove 20% of GVA is on reference price electricity costs but provides not only exemption from renewable tariffs but also access to network charging compensation rebates.
The British Industrial Competitiveness Scheme is a new scheme targeting Frontier and Foundational manufacturers, it provides similar tariff exemptions to the Eii exemption scheme, also applied to your supply invoices, however you cannot access the NCC scheme network compensations. In year one, it will provide an additional year of benefit as a one-off compensation payment via your electricity supplier.
Some key facts on the schemes are below:
As you can see, whilst BIC is an amazing opportunity for manufacturers who are not eligible for Eii and NCC, it is of lower value than the original scheme and eligibility for Eii should always be checked too.
