Energy Saving News
UK Government Plans Energy Efficiency Fund for SMEs
A RADICAL multi-billion pound fund is planned by the UK Government to finance energy efficiency improvements for over four million small to medium UK businesses.
The UK government is approaching banks as well as energy providers about how to administer the proposed programme.
Managing director of British Gas Business (BGB), Kanat Emiroglu, told the Daily Telegraph:
"There should be something in the Queen's Speech in November, in the Energy Bill.
"We are talking to the Government about its energy efficiency scheme for SMEs (small or medium-sized enterprise). They are very receptive about it. I am hoping it will be introduced in a way that's not bureaucratic."
The UK government is seeking to involve the Royal Bank of Scotland and Lloyds Banking Group in the scheme, which will involve lending millions to SMEs. The scheme would be part of the UK’s efforts to lend £94bn to British businesses by next February under legally binding agreements.
Mr Emiroglu told the Telegraph that British Gas wanted to see the scheme up and running quickly, and that the group would contribute up to £20m to prove the concept worked. He also mentioned British Gas was examining how to isolate the energy savings accrued by a single piece of equipment and to take into account the fact that energy consumption may rise or fall for other business reasons.
Also of concern is a report from BGB which has calculated that thousands of firms face fines totaling up to £15m for failing to register their energy use by the end of this month with the UK Environment Agency under the Carbon Reduction Commitment - this only applies to organisations and companies who use more than £500,000 of electricity a year.
Monday 20th September 2010
