Changes to the Carbon Reduction Commitment (CRC) scheme will save business energy users in the UK millions of pounds per year, the government has claimed.
A simplification of the system, which will include shortening the qualification process and cutting the amount of reporting firms are required to make, should see administrative expenses slashed by £330 million by 2030.
Secretary of state for energy and climate change Edward Davey said: "We have listened to businesses' concerns about the CRC and have set out proposals to radically cut down on 'red tape' to save businesses money."
The CRC is a mandatory scheme covering all UK enterprises, which are responsible for 12 per cent of the country's carbon output.
It requires firms to report on the amount of energy they use, with taxes levied based on their level of emissions.
A consultation on the initiative will run for 12 weeks from March 27th, though this was criticised by the Confederation of British Industry.
Director-general of the group John Cridland said the government is "wasting time" on this instead of scrapping the overly complex and bureaucratic scheme.
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