Financial Incentives to go ECO
What is the Energy Company Obligation?
ECO is an obligation placed on all energy suppliers in Great Britain with more than 250,000 customers. The Energy Company Obligation requires the energy suppliers to undertake a range of works to reduce the carbon emissions of homes and also to reduce the home heating costs of certain households in receipt of eligible benefits. The scheme will run until March 2017 and is estimated to be worth £1bn per annum.
ECO funding is split into 2 categories:
- Carbon Emission Reduction Obligation (CERO)
- Home Heating Cost Reduction Obligation (HHCRO)
CERO funding is aimed at the traditional ‘able to pay’ market and offers grants towards solid wall insulation, loft and cavity wall insulation. The other measures include room in roof insulation, flat roof insulation, floor insulation and draught proofing. CERO ECO savings are claimed in tonnes of CO2 saved.
Under the Home Heating Cost Reduction Obligation, householders on eligible benefits can receive a variety of works. The HHCRO funding for these works is typically based on the amount of money that the householder’s energy bill reduces by over the lifetime of the product. So for example, installing loft insulation which reduces the heating bill by £100 and has a lifetime of 42 years will result in an HHCRO Cost saving of £4,200. This saving will then be multiplied by a funding rate to establish a funding level for you to claim.
Our 4 Easy Steps To Be More Energy Efficient
Complete a short form or call our UK customer services team on 0330 113 8500. We’ll take a few details about you and your property.
After using our online form, we will then call you back within 24 hours and arrange your free no obligation survey on a date and time convenient for you.
One of our qualified assessors will attend, survey your property and advise you of your options.
We book your installation which is usually within 14 days of your survey. That’s it! – Lower bills are on their way!