Tuesday, 21 September 2010

Government prepares fund to help small business become more energy efficient

The Government is preparing a radical multi-billion pound fund to finance
the rapid "greening" of more than 4m small businesses.
Under the plans, firms will receive loans to replace old boilers, freezers
and other pieces of energy hungry equipment, with the cash repaid from the
savings made in their monthly energy bills. Whitehall officials are talking to high street banks about the design and
funding of the scheme, as well as to energy providers such as British Gas
about how to administer it. The scheme, which has the working title "The Green Deal for Business",
echoes the Government's plan to loan around £6,500 to up to 14m households
to pay for home insulation and new boilers. Chris Huhne, the Energy Secretary, has had civil servants working on the
plan for four months. Kanat Emiroglu, managing director of British Gas Business (BGB), said:
"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 enterprises]. They are very receptive about it.
I am hoping it will be introduced in a way that's not bureaucratic." British Gas is confident it can guarantee savings on the installation of
certain types of modern, energy-efficient plant and machinery. This data
could form the basis of a loan programme, giving the lenders confidence that
they would be repaid while not costing the small business owners any cash
upfront. http://www.telegraph.co.uk/finance/yourbusiness/8012600/Government-prepares-

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