The Enhanced Capital Allowance (ECA) energy scheme provides tax allowances for energy saving products.
The scheme offers a 100 per cent First-Year Aallowance (FYA) for investments in certain energy saving plant and machinery. If you buy equipment that qualifies, you can write off, for example, 100 per cent of the cost against that year’s taxable profits. This could save you a lot of money, as well as reduce your business’ energy use, carbon footprint and climate change levy payments.
The ECA energy scheme supports a variety of energy saving technologies, such as energy efficient boilers, lighting, refrigeration equipment, and metering and monitoring systems. This guide explains how the scheme works, what energy saving products qualify, and how to claim an allowance.
The Enhanced Capital Allowance (ECA) energy scheme provides tax allowances for energy saving products.
The scheme offers a 100 per cent First-Year Aallowance (FYA) for investments in certain energy saving plant and machinery. If you buy equipment that qualifies, you can write off, for example, 100 per cent of the cost against that year’s taxable profits. This could save you a lot of money, as well as reduce your business’ energy use, carbon footprint and climate change levy payments.
The ECA energy scheme supports a variety of energy saving technologies, such as energy efficient boilers, lighting, refrigeration equipment, and metering and monitoring systems. This guide explains how the scheme works, what energy saving products qualify, and how to claim an allowance.
Secretary of State, Edward Davey, today made the case for the safe and responsible exploration of shale gas in the UK, in line with the UK’s climate change targets. In a speech to the Royal Society, Davey said that if shale gas could be developed in an economically viable and environmentally friendly way, it would benefit the UK – increasing energy security, providing more jobs and tax revenues.
Davey was responding to the findings of a new report which estimates that the carbon footprint of UK produced shale gas would likely be significantly less than coal and also lower than imported Liquefied Natural Gas (LNG).
The report by DECC Chief Scientific Advisor Professor David Mackay FRS and Dr Timothy Stone, Senior Advisor to the Secretary of State, assesses the potential greenhouse gas (GHG) emissions from the production of shale gas in the UK and the compatibility of such emissions with the UK’s legislated climate change targets.
With the right safeguards in place, the report concludes, the net effect on GHG emissions from shale gas production in the UK will be relatively small. In order to ensure that global cumulative GHG emissions to the atmosphere do not increase, worldwide shale gas production needs to be accompanied by additional international emissions-reduction efforts, including a global deal on emissions reductions and additional effort to develop low-carbon technologies such as Carbon Capture and Storage, (CCS).
Read the press notice in full
Read Edward Davey’s speech
Infographic: What is shale gas?
Infographic: Traffic light monitoring system (shale gas and fracking)
Secretary of State, Edward Davey, today made the case for the safe and responsible exploration of shale gas in the UK, in line with the UK’s climate change targets. In a speech to the Royal Society, Davey said that if shale gas could be developed in an economically viable and environmentally friendly way, it would benefit the UK – increasing energy security, providing more jobs and tax revenues.
Davey was responding to the findings of a new report which estimates that the carbon footprint of UK produced shale gas would likely be significantly less than coal and also lower than imported Liquefied Natural Gas (LNG).
The report by DECC Chief Scientific Advisor Professor David Mackay FRS and Dr Timothy Stone, Senior Advisor to the Secretary of State, assesses the potential greenhouse gas (GHG) emissions from the production of shale gas in the UK and the compatibility of such emissions with the UK’s legislated climate change targets.
With the right safeguards in place, the report concludes, the net effect on GHG emissions from shale gas production in the UK will be relatively small. In order to ensure that global cumulative GHG emissions to the atmosphere do not increase, worldwide shale gas production needs to be accompanied by additional international emissions-reduction efforts, including a global deal on emissions reductions and additional effort to develop low-carbon technologies such as Carbon Capture and Storage, (CCS).
Bill payers will not be asked to subsidise increased investment in new gas storage facilities, Energy Minister, Michael Fallon confirmed today, saving bill payers subsidy costs which over 10 years could have amounted to £750 million.
Independent analysis, commissioned by Ministers, shows the UK gas market continuing to function well in attracting gas from a range of sources to meet current and future demand, with gas storage providing only a small proportion of UK total supply (7% in 2012).
The UK has capacity to deliver twice the amount of gas required in a normal winter, and has coped well with extreme winter conditions, such as the extended cold snap this March, and the coldest December since records began in 2010.
Gas storage, while important, only provides a small proportion of UK total supply, and does so in combination with our diverse range of alternative supply infrastructure such as UK production, and pipeline or LNG imports.
Storage facilities cycle their capacity – injecting and withdrawing gas as required by the market. Therefore, unless restrictions on their use are put in place, storage facilities cannot be relied upon to have gas when needed by the market. However, they are an important source of flexibility, helping the gas market balance when demand is high.
Government takes gas security of supply seriously. Ministers therefore considered whether intervening in the gas market to encourage more gas storage could improve security of supply without adding disproportionate costs to energy bills.
The analysis, by Redpoint, concluded that the costs of intervention would far outweigh any benefit to security of supply, meaning that Government and consumers would be subsidising investment that large energy companies could pay for themselves…
The full press release and the analysis report are available on GOV.UK
Bill payers will not be asked to subsidise increased investment in new gas storage facilities, Energy Minister, Michael Fallon confirmed today, saving bill payers subsidy costs which over 10 years could have amounted to £750 million.
Independent analysis, commissioned by Ministers, shows the UK gas market continuing to function well in attracting gas from a range of sources to meet current and future demand, with gas storage providing only a small proportion of UK total supply (7% in 2012).
The UK has capacity to deliver twice the amount of gas required in a normal winter, and has coped well with extreme winter conditions, such as the extended cold snap this March, and the coldest December since records began in 2010.
Gas storage, while important, only provides a small proportion of UK total supply, and does so in combination with our diverse range of alternative supply infrastructure such as UK production, and pipeline or LNG imports.
Storage facilities cycle their capacity – injecting and withdrawing gas as required by the market. Therefore, unless restrictions on their use are put in place, storage facilities cannot be relied upon to have gas when needed by the market. However, they are an important source of flexibility, helping the gas market balance when demand is high.
Government takes gas security of supply seriously. Ministers therefore considered whether intervening in the gas market to encourage more gas storage could improve security of supply without adding disproportionate costs to energy bills.
The analysis, by Redpoint, concluded that the costs of intervention would far outweigh any benefit to security of supply, meaning that Government and consumers would be subsidising investment that large energy companies could pay for themselves…
The full press release and the analysis report are available on GOV.UK
