New low carbon levies put on hold until 2025
In the latest update of the Levy Control Framework put forward in last week’s budget, Government has stated it will not implement the new low carbon levies for electricity. This decision has been taken with rising energy bills in mind and with the aim to protect customers from the burden of such increases. Forecasts predict their introduction in around 2025 unless there is a meaningful decrease in levies in the interim.
This decision will have no impact on existing commitments. Off the back of recent Contracts for Difference auctions, the current framework and plans seem to be on track in terms of meeting low carbon requirements.
Exhibiting a real dedication to keeping the price of energy as low as possible, Government has stated it will consider implementation of levies if it reduces bills. With a fluctuating market in mind, figures will need to be sustainable before this is considered. At Smarter Business, our interest is ensuring the best and most cost-effective energy contracts for our customers. With our eyes on the market and long-standing relationships with suppliers, we are able to negotiate tariffs to make sure you get the best value for money out of your energy contract. Contact us today to discuss your business’s energy procurement and management strategy.