UK energy summit

24 June 2010

On Thursday the Secretary of State for Energy and Climate Change, the Rt Hon Chris Huhne MP spoke at the Economist UK Energy Summit and outlined the Governments plan to increase the energy efficiency of UK homes. The Department of Energy and Climate Change (DECC) estimates than an investment of £200bn over the next ten years is needed to reach the CO2 emission target of 2020. Mr Huhne noted that “We also need to leverage private sector investment in energy infrastructure and low carbon technology through a Green Investment Bank”.  Mr. Huhne said that new legislation will not only focus on renewable energy, carbon storage and nuclear energy, but on a new Green Deal aimed to increase the energy efficiency of existing houses. “The Green Deal is a completely new and ambitious approach to home insulation. The aim is that every participating householder will save money by insulating their home”. DECC estimates that up to 14 million homes could benefit from insulation and increase their energy efficiency. “Energy companies and high street stores will help guide customers through a simplified process and pay for the work upfront. Householders will then pay back over time on their energy bills from the energy savings they make”

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