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Incentives
Page 40
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• Companies have more incentive to cut energy expenditure than ever before thanks to a change in government taxation policy.
Introduced on 1 April 2001, the Climate Chang( Levy is a tax on the business use of energy which is designed to encourage businesses ti become more energy efficient. It is charged per unit of energy0.43p/kWh for electricity and 0.15p/kWh for gas.
There are a number o statutory exemptions and discounts; for example, the horticulture sector is receiving a 50% discount for up to five years.
Switching to a renewable resource—wind power, for instance— could help a firm qualify for exemption.
All the revenue raised—approximately £1bn in 2001/2002—will IN recycled back into business, primarily through a 0.3% cut in employers' National Insurance Contributions.