Formation of new industry-led Green Deal consortium

The Sunday Times and today’s Telegraph and Guardian report the formation of a new Green Deal Finance Company (GDFC) – an industry-led consortium investigating how to finance the best value Green Deal option for consumers.

Chris Huhne, Secretary of State at the Department of Energy and Climate Change, said:

“This is an exciting initiative with the potential to reduce interest rates on Green Deal finance, while also supporting healthy competition amongst Green Deal providers including small businesses. New firms like the Green Deal Finance Company are testament to the attractiveness of the Green Deal framework and its potential to offer a better deal to consumers.”

The new Green Deal will be the biggest home improvement plan since the second world war, helping to insulate people against rising energy prices and creating homes which are warmer and cheaper to run.

Energy efficiency has been long ignored, but it is vital for tackling climate change, for protecting energy security and for boosting economic growth.

The Green Deal will make home improvements affordable by removing the upfront cost, there will be plenty of choice in the market from well-known and trusted High Street names alongside independent advice and good quality workmanship.

Members of the GDFC include British Gas, Carillion, Clifford Chance, E.ON, EDF Energy, Goldman Sachs, HSBC, Insta Group, Kingfisher, Linklaters, Lloyds Bank Corporate Markets, Mark Group, npower, PwC, RBC Capital Markets and SSE.

Read more about the Green Deal.