As part of the Wednesday 13 March Spring Statement, Chancellor of the Exchequer Philip Hammond announced that BEIS had launched a consultation on a small and medium-sized enterprises (SMEs) energy efficiency scheme. BEIS has proposed three possible options for delivering the scheme. The first is a periodic energy efficiency auction based on competitive tenders. The second is a business energy efficiency obligation which would work in a similar way to the Energy Company Obligation. The third option is to expand access to finance options for SMEs through green loans or an energy service contract from an Energy Service Company. The consultation closes on 8 May.