Policy paper

Introduction of a new investment exemption for the Electricity Generator Levy

This tax information and impact note is about the new investment exemption from the Electricity Generator Levy — this applies to certain investment projects where there is a decision to proceed on or after 22 November 2023.

• From: HM Revenue & Customs
• Published: 18 December 2023

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Electricity Generator Levy: new investment exemption

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Explanatory note

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Details

This measure introduces an exemption from the Electricity Generator Levy for revenues from new electricity generating projects where the substantive decision to proceed is taken on or after 22 November 2023. New electricity generating projects will include new standalone stations, capacity increases and wholescale replacement of generating plant of existing stations.

Published 18 December 2023