Jurisdiction(s):
United Kingdom

Transparency elections under the UK Electricity Generator Levy: effect, shareholder conditions, joint and several liability, HMRC notices, revocation and appeal process

Published by a LexisNexis Tax expert

Practice notes

Forthcoming change : On 21 April 2026, the government announced that the rate of the EGL will be increased to 55% and that it will be extended past its scheduled end of 31 March 2028.

The EGL currently imposes a temporary 45% levy on exceptional proceeds from wholesale electricity production in the UK. It has effect from 1 January 2023 and runs through to 31 March 2028. For further background and context, see Electricity Generator Levy—overview. Under the governing legislation, set out in Part 5 of the Finance (No 2) Act 2023 (F(No 2)A 2023), the levy is charged on a qualifying generating undertaking’s exceptional generation receipts, assessed for a qualifying period. Because these ideas are closely connected, it can be necessary to move back and forth between them to work out whether the EGL applies in a particular situation. There are special attribution rules that address how electricity generation and generation receipts are allocated to group members or joint ventures; see Practice Notes: Electricity Generator Levy—what is a qualifying generating undertaking? and Electricity Generator Levy—what are exceptional generation receipts? As an optional simplification, groups and joint ventures may elect to treat entities as transparent for EGL purposes...

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Web page updated on 27/05/2026

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