Tuesday, 29 November 2011

Autumn Statement the Chancellor George Osborne - Energy Guzzling Companies to Receive Relief on Carbon Taxes

During today’s Autumn Statement the Chancellor George Osborne is expected to inject hope into the British economy to halt the feared double-dip recession. One of these measures will benefit intensive business energy users with a relief on their carbon taxes which could represent savings of up to 10% on their business electricity bills.

If confirmed these carbon taxes rebates will help British companies become more competitively internationally. Intensive business electricity users have complained that right now the carbon taxes harm their international competitiveness.

Germany offers carbon tax rebates worth more than €5 billion a year and high energy users only pay €0.5 of a €35 tax. Estimates are that the British rebate will be worth a total of £212 million for the period 2012-2016 for those affected by the EU-ETS tax or the CCL (Climate Chance Levy). Another £250 million will also be available for companies affected by the upcoming carbon price floor.

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