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To ask the Secretary of State for Energy Security and Net Zero, what assessment his department has made of the potential merits of rebalancing policy costs levied on electricity bills across gas and electricity bills equally.
To ask the Secretary of State for Energy Security and Net Zero, what assessment his department has made of the potential merits of rebalancing policy costs levied on electricity bills across gas and electricity bills equally.
The Government recognises that policy costs fall disproportionately on electricity bills and are taking forward work to ensure that prices reflect the cheaper wholesale price of clean energy.
On the distribution of costs between electricity and gas, the Government acted at the Autumn Budget to cut electricity costs in a way that makes this distribution fairer. We ended funding for the Energy Company Obligation scheme, as well as removing 75% of costs for the Renewables Obligation scheme from people’s energy bills.
The government also announced in April plans to go further and faster on delinking electricity and gas prices. We will consult later this year on arrangements to offer existing generators a fixed price Contract for Difference for the electricity they generate. In addition, the rate of the Electricity Generator Levy has been increased by 10% to respond to the high prices that generators are benefitting from due to the crisis in the Middle East.
To ask His Majesty's Government what is the annual tax cost of exempting rail operators from the climate change levy on their purchase of electricity.
To ask His Majesty's Government what is the annual tax cost of exempting rail operators from the climate change levy on their purchase of electricity.
Energy supplies used in certain forms of transport are exempt from the main rate of Climate Change Levy (CCL). This includes electricity used to electrify rail lines, light a railway carriage transporting passengers and light the cab interior of a freight train transporting goods.
Information on the estimated cost of tax reliefs, including CCL exemptions, is published on GOV.UK and can be found in the annual statistics on tax reliefs. However, it is not possible to provide the annual tax cost of exempting rail operators from CCL, as HMRC does not collect this information.
Motion that provision may be made increasing the rate of the electricity generator levy to 55%. Agreed to on question.
Motion that provision may be made increasing the rate of the electricity generator levy to 55%. Agreed to on question.
I beg to move,
That provision may be made increasing the rate of the electricity generator levy to 55%.
I beg to move,
That provision may be made increasing the rate of the electricity generator levy to 55%.
The Chancellor has committed to doing what she can to support families and businesses to be responsive in a changing world and responsible in the national interest. The measures before the House assist the Government in that objective.
The way that the current energy system works means that households and businesses...
The Chancellor has committed to doing what she can to support families and businesses to be responsive in a changing world and responsible in the national interest. The measures before the House assist the Government in that objective.
The way that the current energy system works means that households and businesses...
For covid!
For covid!
The hon. Gentleman says it was for covid, but he forgot to mention Liz Truss.
This Government’s record shows that despite that instability, our plan is working. UK GDP growth in the past two years was the second fastest in the G7. Real household disposable income per person has grown by...
The hon. Gentleman says it was for covid, but he forgot to mention Liz Truss.
This Government’s record shows that despite that instability, our plan is working. UK GDP growth in the past two years was the second fastest in the G7. Real household disposable income per person has grown by...
I thank the Minister for his very clear laying out of the measures before us. May I say that sometimes there is no place for partisanship? Perhaps we have had a taste of that today.
I have a series of questions for the Minister. As I did not have a chance...
I thank the Minister for his very clear laying out of the measures before us. May I say that sometimes there is no place for partisanship? Perhaps we have had a taste of that today.
I have a series of questions for the Minister. As I did not have a chance...
I do not intend to detain the House for long. I welcome the motion to increase the electricity generator levy, which—alongside the Government’s plans to encourage participation at a competitive price in long-term fixed contracts for low-carbon generators—will weaken the link between electricity and gas prices, with the overall effect...
I do not intend to detain the House for long. I welcome the motion to increase the electricity generator levy, which—alongside the Government’s plans to encourage participation at a competitive price in long-term fixed contracts for low-carbon generators—will weaken the link between electricity and gas prices, with the overall effect...
The electricity generator levy is a windfall tax on UK electricity generation from nuclear, renewable and biomass sources, and it raised £0.7 billion in the last financial year. The EGL is a revenue-based tax that currently applies at a rate of 45% on exceptional generation receipts above a benchmark price...
The electricity generator levy is a windfall tax on UK electricity generation from nuclear, renewable and biomass sources, and it raised £0.7 billion in the last financial year. The EGL is a revenue-based tax that currently applies at a rate of 45% on exceptional generation receipts above a benchmark price...
I thank all those who have spoken, and I thank my hon. Friend the Member for Chesterfield (Mr Perkins) for his warm remarks. I will respond to the points made by the shadow spokespeople. I assume that this change will appear as a line item, although I would not want...
I thank all those who have spoken, and I thank my hon. Friend the Member for Chesterfield (Mr Perkins) for his warm remarks. I will respond to the points made by the shadow spokespeople. I assume that this change will appear as a line item, although I would not want...
I am grateful to the Minister for clarification that there is active consideration of an end date for that higher rate of 55%, but he will know that the 45% rate had an end date too. Will the review also consider announcing the end date for the levy overall, or...
I am grateful to the Minister for clarification that there is active consideration of an end date for that higher rate of 55%, but he will know that the 45% rate had an end date too. Will the review also consider announcing the end date for the levy overall, or...
As the shadow Minister will know, all tax rates, thresholds and the design of tax policy are considered in the round in the run-up to Budgets. With the key policy intention of the increase in the rate, and by extension the decision to continue the policy in any form, one...
As the shadow Minister will know, all tax rates, thresholds and the design of tax policy are considered in the round in the run-up to Budgets. With the key policy intention of the increase in the rate, and by extension the decision to continue the policy in any form, one...
Could the Minister just remind us to which party the Chief Secretary to the Treasury between 2010 and 2015 belonged?
Could the Minister just remind us to which party the Chief Secretary to the Treasury between 2010 and 2015 belonged?
I am not sure. I have been in the Chief Secretary’s office in the Treasury, and there are many pictures on the wall of the countless Chief Secretaries who served under the last Government—especially towards the end, what with all the chopping and changing. However, both the Liberal Democrats and...
I am not sure. I have been in the Chief Secretary’s office in the Treasury, and there are many pictures on the wall of the countless Chief Secretaries who served under the last Government—especially towards the end, what with all the chopping and changing. However, both the Liberal Democrats and...
To ask His Majesty's Government what assessment they have made of the economic benefits of moving levies from electricity bills to general taxation for both domestic and non-domestic consumers.
To ask His Majesty's Government what assessment they have made of the economic benefits of moving levies from electricity bills to general taxation for both domestic and non-domestic consumers.
At last year’s Budget, the Chancellor took the decision to fund 75% of the domestic share of the Renewables Obligation through the Exchequer and ended the levy-funded Energy Company Obligation. These decisions took on average £150 of costs off household energy bills and are forecast to reduce inflation by over 0.2 percentage points in 2026/27.
The Government’s fiscal plans – which factor in the impacts of the Chancellor’s decisions on levies – are bringing down borrowing and debt, keeping the public finances on a sustainable path and supporting the Bank of England to keep inflation as low as possible. According to the IMF, between 2025-2030, the UK will be reducing borrowing more than any other G7 country.
The Government keeps all taxes under review and is introducing a new framework to subject levies to enhanced scrutiny and ensure they are affordable, value for money and do not impose unnecessary costs.
To ask His Majesty's Government what assessment they have made of the impact of moving levies from electricity bills to general taxation on reducing inflation and lowering the Government’s borrowing costs.
To ask His Majesty's Government what assessment they have made of the impact of moving levies from electricity bills to general taxation on reducing inflation and lowering the Government’s borrowing costs.
At last year’s Budget, the Chancellor took the decision to fund 75% of the domestic share of the Renewables Obligation through the Exchequer and ended the levy-funded Energy Company Obligation. These decisions took on average £150 of costs off household energy bills and are forecast to reduce inflation by over 0.2 percentage points in 2026/27.
The Government’s fiscal plans – which factor in the impacts of the Chancellor’s decisions on levies – are bringing down borrowing and debt, keeping the public finances on a sustainable path and supporting the Bank of England to keep inflation as low as possible. According to the IMF, between 2025-2030, the UK will be reducing borrowing more than any other G7 country.
The Government keeps all taxes under review and is introducing a new framework to subject levies to enhanced scrutiny and ensure they are affordable, value for money and do not impose unnecessary costs.
To ask His Majesty's Government what plans they have to take further action to move levies from electricity bills to general taxation.
To ask His Majesty's Government what plans they have to take further action to move levies from electricity bills to general taxation.
At last year’s Budget, the Chancellor took the decision to fund 75% of the domestic share of the Renewables Obligation through the Exchequer and ended the levy-funded Energy Company Obligation. These decisions took on average £150 of costs off household energy bills and are forecast to reduce inflation by over 0.2 percentage points in 2026/27.
The Government’s fiscal plans – which factor in the impacts of the Chancellor’s decisions on levies – are bringing down borrowing and debt, keeping the public finances on a sustainable path and supporting the Bank of England to keep inflation as low as possible. According to the IMF, between 2025-2030, the UK will be reducing borrowing more than any other G7 country.
The Government keeps all taxes under review and is introducing a new framework to subject levies to enhanced scrutiny and ensure they are affordable, value for money and do not impose unnecessary costs.
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the potential impact of permanently moving social and environmental levies from electricity bills into general taxation on (a) average household energy bills and (b) levels of fuel poverty.
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the potential impact of permanently moving social and environmental levies from electricity bills into general taxation on (a) average household energy bills and (b) levels of fuel poverty.
At the Autumn Budget, HMG took £150 of costs off energy bills, partially achieved through moving 75% of the cost of the domestic Renewables Obligation (RO) to the Exchequer. This arrangement will continue for the next 3 years. The transfer of these RO costs to public expenditure is a significant step towards rebalancing levies away from electricity: cheaper electricity is the cornerstone of the low-carbon economy that we are building through our Clean Energy mission. We will continue to explore ways to both lower energy bills for consumers including the fuel poor, and reduce barriers for consumers to adopt clean technologies.