Applications Open for Scheme to Slash Electricity Bills for Over 10,000 Manufacturers
More than 10,000 businesses across Great Britain are a step closer to vital government support to slash their electricity bills, as applications open today for the British Industrial Competitiveness Scheme (BICS)
- Applications now open for the British Industrial Competitiveness Scheme (BICS), with eligible businesses urged to apply by 30 November.
- Government action to tackle one of the biggest challenges facing businesses by slashing electricity bills by up to 25%.
- Cut in electricity bills will drive reindustrialisation across the country and support hundreds of thousands of skilled UK jobs.
More than 10,000 businesses across Great Britain are a step closer to vital government support to slash their electricity bills, as applications open today for the British Industrial Competitiveness Scheme (BICS).
Business Secretary Jonathan Reynolds has urged eligible manufacturers to sign up before registrations close on 30 November to receive support from April 2027, marking the next milestone in government action to tackle industrial energy costs and reindustrialise Britain.
A flagship measure of the Modern Industrial Strategy, BICS will cut manufacturers’ electricity costs by up to 25 percent, with support targeted at the UK’s frontier and foundational industries where around 98 percent of all firms are small businesses.
It will save companies hundreds of millions of pounds a year and help them invest, grow and create good jobs across the country as part of the Prime Minister’s mission to reindustrialise Britain.
Business Secretary Jonathan Reynolds said:
"We will reindustrialise Britain by tackling one of the biggest pressures facing manufacturers and cutting their electricity bills.
"I’d urge every eligible manufacturer to get your application in for the British Industrial Competitiveness Scheme. This support will help companies spend less on energy and more on growing their business, unlocking the growth we want to see across the country."
Chancellor John Healey MP said:
"This government is focused on giving businesses a bit of breathing space, so they can invest, grow and create good jobs.
"By backing British industries, we are strengthening Britain’s economic resilience and driving growth in every postcode."
Energy Secretary Miatta Fahnbulleh said:
"We’re cutting electricity bills for thousands of manufacturers to help firms invest, grow and create good jobs.
"Meanwhile, we are pressing ahead to break the link with fossil fuels, upgrade our network, speed up connections with Great British Grid and transition to clean power, which is the only way to bring down bills for good."
Businesses confirmed as eligible will also be in line for an additional lump-sum payment equivalent to around a year’s relief from the scheme. Only those applying for BICS this year will be able to access the additional year of payment.
BICS forms part of wider government action to tackle industrial electricity costs and strengthen the competitiveness of UK manufacturing.
This includes extended support through the British Industry Supercharger, which helps cut electricity costs for energy-intensive industries including steel, chemicals, glass, paper and ceramics by over £400 million per year.
The Government has also backed some of the UK’s vital national sectors such as chemicals and ceramics with additional targeted funding to tackle high energy costs and shore up Britain’s resilience, with £350 million and £120 million respectively.
BICS is targeted at manufacturers across the Modern Industrial Strategy’s eight high-growth sectors, such as aerospace and defence, as well as the foundational industries that supply them, directing support where it will have the greatest impact on growth, investment, competitiveness and jobs.
From: Department for Business and Trade, Department for Energy Security and Net Zero, HM Treasury and The Rt Hon Jonathan Reynolds MP