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Cash for energy efficiency
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Energy-saving home improvements should be funded with permit cash
Thursday 20 November, 2008
Writes Hazel Cottrell hazel.cottrell@consumerchoices.co.uk
Revenue from this week’s carbon permit auction should go towards energy efficiency improvements in homes, a thinktank urges.
The Institute for Public Policy Research (IPPR) said that funds raised from government auctions of permits to energy suppliers should be used for energy efficiency and environmental programmes.
It said that the money should be kept in a separate fund, which would be used to improve the energy efficiency of people’s homes, invest in renewable energy technology and help poorer countries cope with the effects of climate change.
Lisa Harker, IPPR co-director, said: “This is a great opportunity to help poorer households make their homes both cheaper to heat and warmer.”
The government has said that while it is committed to reducing carbon emissions, it does not ring-fence revenue for specific uses.
The first auction of permits, which took place this week, raised around £54 million for the government. Subsequent auctions, over the next five years, are expected to bring the total to £1.35 billion.
Chris Eagle, commercial manager at EnergyChoices.co.uk said: “As the government is refusing to designate these funds, it will be interesting to see how the revenue from these auctions is spent.
“If you want to save money on your energy bills now, there are plenty of energy efficiency measures you can implement yourself.”
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