“This move marks a significant step towards addressing the high energy costs that are placing growing financial pressure on UK businesses and undermining their international competitiveness.
“By expanding eligibility and introducing backdated payments to the British Industrial Competitiveness Scheme, the government has shown it is listening to firms grappling with volatility in global energy markets.
“As the UK looks to reshape and modernise its industrial base, this decision provides an opportunity to rethink how we fund our energy infrastructure. Extending this competitiveness-first approach across the wider economy could help support growth.
“While expanding BICS is significant and welcome, we see it as an important step in addressing the UK’s high energy costs, not ‘job done’. This is a targeted measure and bringing down energy costs for all UK businesses depends on lasting reform. That will require decisive government action: removing policy costs from electricity bills, scaling targeted energy efficiency support, and accelerating the delivery of renewable energy.”