Rising business rates threaten cheap energy projects in Scotland - 02/08/2010
Increasing business rates could have a negative impact on renewable cheap energy projects in Scotland, experts have warned.
Over the past few years, business rates have risen five-fold and a recent increase this year is making it difficult for specialist business energy firms to cope with higher charges, reports the Scotsman.
A number of renewable cheap energy firms are planning to appeal against the charges, which has seen business rates for wind farms double and rates for hydro power schemes increase even more.
The new rates introduced this year are based on a revaluation carried out two years ago and relate to higher revenues and lower construction costs at the time.
Liberal Democrat environment spokesman Liam McAuthur told the paper: "It is hard to avoid the conclusion that these increases will cause some valuable projects to be abandoned."
He added that the increased business rates are "a slap in the face" to the renewable energy industry and a serious blow to hopes of Scotland meeting its ambitious climate change targets.
If you want to find out more about your energy options and how you could save up to £378 in minutes, click here.
Save up to £300 on your gas & electricity bills at energyhelpline.com
Compare prices from all energy suppliers to find your best deal