facebook
twitter
rss
account
search
search
 

22 companies sign onto U.K. Green Deal

April 5, 2012 at 8:48 AM   |   Comments

LONDON, April 5 (UPI) -- London said that 22 organizations came forward to sign what the government describes as its Green Deal, a move to increase residential energy efficiency.

"The signing of this agreement between government and business pioneers represents a watershed moment in the development of the Green Deal," Climate Change Minister Greg Barker said in a statement.

The deal allows consumers to take out loans to cover the cost of improving insulation. The Guardian newspaper in London estimates that around 14 million homes don't have adequate insulation.

The initial 22 providers includes mostly small and medium-sized energy companies, though major companies like British Gas and German energy company E.ON were included in the initial tranche of providers.

"We will be working with these organizations to ensure they can fulfill the potential they have demonstrated today and become the first to offer Green Deals," said Barker.

Gearoid Lane, managing director for British Gas New Markets, explained that about 25 percent of consumer money is lost because of poor insulation.

"This is a green revolution in home improvements and it's vital that customers have confidence in the improvements and in the companies delivering them," Phil Gilbert, head of energy Innovation, E.ON, said in a statement.

The plan is to begin in October.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
2
Pay up, Gazprom tells Ukraine Pay up, Gazprom tells Ukraine
3
Rheinmetall, KBR in joint venture bid for British defense entity
4
Creator of 'Honey Badger Don't Care' brand sues for trademark infringement Creator of 'Honey Badger Don't Care' brand sues for trademark infringement
5
Starbucks testing smaller Frappuccinos Starbucks testing smaller Frappuccinos
Trending News
Video
x
Feedback