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ECO to be replaced with “cheaper” energy efficiency scheme, Osborne confirms

ECO to be replaced with “cheaper” energy efficiency scheme, Osborne confirms


 

Chancellor George Osborne has announced that the government’s Energy Company Obligation (ECO) will be replaced in 2017 by a new scheme that improves the energy efficiency of 200,000 homes/ year. Delivering the joint Spending Review and Autumn Statement on Wednesday 25 November, Osborne said the new, “cheaper” programme would run for five years and would reduce the average household bill by £32/ year in 2017-18 relative to ECO. Osborne further confirmed that the Renewable Heat Incentive would be reformed in a way that delivered savings of £690mn/ year by 2020-21, and that energy-intensive industries were to be permanently exempted from environmental tariffs.

 

Autumn Statement