Business energy

UK’s Green Investment Bank ‘leading the world’

The UK’s Green Investment Bank has been praised by David Cameron who stated that it is ‘leading the world’. The bank was the first of its kind, which offers funding to green projects through the UK. It was set up by the coalition government in 2012, with £3.8 billion in funding from the government.

The Green Investment Bank has its headquarters in Edinburgh, which came out on top of a number a other cities, and has backed over 45 new green projects since 2012 including onshore and offshore wind.

The UK’s commercial vehicles could be saving £2.6 billion on fuel costs

With the UK’s commercial fleet show on at the NEC Birmingham this week, fleet managers will be heading there in their thousands. They will be assessing the benefits of using ultra-low emission vehicles and research has shown that they will be very impressed.

A figure of £1,459 has been given as the potential annual saving for each vehicle that makes the switch to ultra-low emission. That accumulates to a figure of £2.6 billion of potential fuel savings for the UK’s commercial vehicles.

Rising energy costs in the pipeline

The energy sector, throughout 2014, maintained its importance to the political agenda, with the parties continuing to debate the cost of the government’s energy and climate policies.

While policy mechanisms intended to drive decarbonisation and ensure security of supply add costs to households’ energy bills, the government expects that by 2020 its interventions will mean that domestic consumers are paying less than would otherwise have been the case.

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