The Gravity of ECO Cuts

The Gravity of the ECO cuts Under CERT between 2008-2012 the energy companies achieved 2,568,870 cavity wll insulation 300. 101.3%* MIII 250 3,897,324 loft insulation 200 of target 150 58,916 solid wal insulation 100 66% of total carbon savings from insulation 50 0 TARGET ACHIEVED EFFECT = MILLIONS OF HOMES MADE MORE ENERGY EFFICIENT ECO CO, Reduction Ambition VS Reality ECO (ENERGY COMPANY OBLIGATION) 2012 CERT TARGET Is only 23.6% * 2013 ECO TARGET of CERT 2012 targets HOWEVER CHANGES TO THE GOVERNMENT'S ENERGY POLICY IS GOING TO REDUCE THIS EVEN FURTHER CSCO TARGET LEFT TO BE 25% OF DELIVERED TARGET ECO TARGET НM ALREADY TREASURY DELIVERED PROPOSED 33% TARGET 75% OF ECO TARGET CARRY OVER FROM CUT TO CERO PREVIOUS SCHEMES ECO TARGET EFFECTIVE CERO TARGET CUT BY 49% REDUCTIONS EFFECTIVE 36% cUT TO ECO TARGETS 14% CARRY OVER FROM PREVIOUS SCHEMES *** 25% CSCO - Carbon Savings Community Obligation 33% PROPOSED CUT TO CERO TARGET 25% TARGETS ALREADY DELIVERED 5% LEVELISATION - ENERGY COMPANY BONUS 11% TO BE CARRIED OVER INTO FUTURE SCHEMES 14.9% of CERT 2012 targets 2015 ECO TARGET NOW ONLY WITH ONLY 12% TARGET LEFT TO BE DELIVERED IN 2014/15 THE EFFECT OF THESE CUTS WILL MEAN 50,000 20,000 More cold homes More job losses And where will the 12% that's left go? 3, The energy companies are likely to deliver most of their remaining targets in Scotland due to the availability of HEEPS funding Home Energy Efficiency Programmes Scotland (HEEPS) References KNAUFINSULATION The final report of the Carbon Emissions Reduction Target (CERT) 2008-2012 OFGEM May 2013 What are the different obligations under ECO? www.ofgem.gov.uk March 2014 its time to save enengy The Future of the Energy Company Obligation Department of Energy & Climate Change February 2014 MT CO, Emission savings