Governments 2013 Spending Review

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The Governments 2013 spending review was published yesterday, the Departments of Energy and Climate Change summery looks like positive news for Renewable Heat.

 

2.67 The Department of Energy and Climate Change (DECC) settlement includes:

capital provision for investment in innovative energy projects and £5.3 billion funded through energy bills, to enable investment in renewable energy and other projects, and to address fuel poverty; and

 funding of up to £430 million for the Renewable Heat Incentive, with proposed new tariffs and a higher budget cap to encourage increased take up.

This is supported by a commitment to provide up to £7.6 billion (in 2012 prices) in support for low-carbon generation by 2020-21. In 2015-16, the Government will provide £5.3 billion through the Levy Control Framework, which will include funding for low-carbon energy generation projects. This will support the development of the UK manufacturing supply chain and provide incentives for investment in this sector.

2.69 The Government remains committed to investing in low-carbon energy projects. Further details will be set out in Investing in Britain’s Future

 

 

The complete review document can be accessed here.

 

 

 

 

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