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MSP kWh is the amount of electricity consumed at the 'meter supply point', which is the customer's meter. GSP kWh is obtained by multiplying the MSP kWh by the Line Loss Factor (LLF, a figure > 1) to include the amount of electricity lost when it is conducted through the distribution network, from the 'grid supply point' to the customer's meter.
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax .
After gaining power, the new Labour Chancellor Gordon Brown announced in July 1997 that the lower rate of VAT on domestic fuel and power would be reduced from 8% to 5% with effect from 1 September 1997. [14] [15] In November 1997, Brown announced that the VAT on installation of energy-saving materials would be reduced from 17.5% to 5% from 1 ...
The March 1993 budget was broadly neutral for the year ahead, but the chancellor introduced a number of tax rises that would take effect in successive years. Chief amongst these was his decision to raise VAT on domestic energy bills, which would be phased in from April 1994 when VAT of 8% would be levied.
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A value-added tax (VAT), or goods and services tax (GST), is a tax on exchanges. It is levied on the added value that results from each exchange. It differs from a sales tax because a sales tax is levied on the total value of the exchange. For this reason, a VAT is neutral with respect to the number of passages that there are between the ...
People in vulnerable groups will be eligible for a lower VAT rate of 5% on their electricity bills. The state will increase pensions to some 165,000 beneficiaries, and give vulnerable households ...