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Important announcements for renewables in Pre Budget Report
Submitted: 6 December 2005
The REA welcomes the following announcements from 5th December's Pre Budget Report:
  • VAT rates will be further reduced for wood-fuelled boilers (Item 7.36, Chapter 7) New Announcement - This reduction comes into effect on 1st January 2006!
  • Rebated oils used for electricity generation will be exempt from duty from 1 January 2006.
  • Government is minded to apply for an extension of the derogations for waste oils reused as fuel (7.5)
  • The Renewable Transport Fuels Obligation has been confirmed by the Chancellor to be set at 5% (volume) in 2010-11. Targets will be set for 2008-9 and 2009-10, along with the duty incentive for 2008-9. The need for carbon accreditation is addressed. (7.54)
  • The Government will provide Enhanced Capital Allowances for biofuels plants that meet qualifying criteria and have a good carbon balance inherent in their design. (7.55) See this article for more information
The Government is supporting a biogas project of using landfill gas for transport fuel (7.58) and there are also positive announcements regarding carbon capture and storage, the Climate Change Levy, and energy efficiency (all chapter 7). Link to full report below.

 Related Web Site(s)
Pre Budget Report Dec 05 . .

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