Applications have opened for the British Industrial Competitiveness Scheme (BICS), offering support to over 10,000 manufacturers across Great Britain. The scheme aims to reduce electricity bills by up to 25%.
Business Secretary Jonathan Reynolds has encouraged eligible manufacturers to apply by the 30 November deadline to receive support from April 2027. BICS is a key part of the Modern Industrial Strategy and is intended to save companies hundreds of millions of pounds annually.
The scheme targets the UK's frontier and foundational industries, where small businesses account for a significant majority of firms. Businesses confirmed as eligible for BICS will also be in line for an additional lump-sum payment equivalent to approximately a year's relief from the scheme.
BICS forms part of broader government efforts to address industrial electricity costs, including extended support through the British Industry Supercharger and targeted funding for sectors such as chemicals and ceramics.