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D7.950 Electricity generator levy—overview

[For additional key resources on this topic see 'Electricity generator levy—related content' below.]

Broadly, the electricity generator levy (EGL) is a temporary 45% charge on exceptional receipts generated from the production of wholesale electricity from renewable sources between 1 January 2023 and 31 March 2028¹. It applies to qualifying generating undertakings, which generally are companies or groups of companies that produce in excess of 50,000 megawatt hours per year (or the equivalent on a pro-rata basis for shorter periods). A helpful list of definitions used for the purposes of the EGL is set out in F(No 2)A 2023, s 213.

The EGL applies for 'qualifying periods'. These are²:

1. Ìý

   •ÌýÌýÌýÌý the period (if any) between 1 January 2023 and the start of the first accounting period of the undertaking that begins on or after 1 January 2023

2. Ìý

   •ÌýÌýÌýÌý the first accounting period of the undertaking that begins on or after 1 January 2023

3. Ìý

   •ÌýÌýÌýÌý every subsequent accounting period of the undertaking that ends on or before