Business Secretary Peter Kyle has announced an eight-week consultation on the brand-new British Industrial Competitiveness Scheme (BICS). The initiative will cut electricity costs from April 2027 for manufacturers in sectors including automotive and aerospace, and for chemical suppliers.
Industry groups often express that energy costs are hindering competitiveness. Surveys show nearly two-thirds of manufacturers see power prices as a major threat to long-term investment.
BICS will cut eligible firms’ costs by £35-£40 per megawatt hour.
The consultation is open until 19 January, and we will find out the results before Summer 2026.
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This is great news if you are a business in the automotive, aerospace or chemical sectors, but most businesses are not seeing the same light at the end of the tunnel. As of January 2025, wholesale electricity cost £90.21 per Megawatt-hour per week, more than two-thirds (67.24%) higher than four years prior, when the average cost stood at £36.24 (Source). And there are more increases on the way in the form of TNUoS (Transmission Network Use of System) and RAB Levy (Nuclear Regulated Asset Base), meaning looking ahead can feel rather bleak.
That’s where we can help.
Our team of experts have excellent supplier relationships, which means they can negotiate deals you may not have been able to access otherwise. We are here to maximise savings for your business quickly and considerately.
All it takes is a quick chat with you to understand your position and costs. One of our experts will take on your account, find an array of better solutions (and hopefully some real savings!) and present you with options. They will handle your account in full, leaving you to breathe a sigh of relief, knowing your costs are in expert hands.
Whether you’re eligible for the British Industrial Competitiveness Scheme or not, get ahead of rising costs and #GetSmart by contacting us today. Give us a call on 0330 822 1681 or fill in the form below.
