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British gas will make customers home green

By Ross Sorin Subscribe to RSS | February 28th 2012 | Views:

Few weeks ago, the UK government was criticized over announcing a price hike of 18% for the customers using gas and 16% for the households who are buying its electricity. It has responded in part with its Home Energy Plan especially designed to the lower bills.

The UK government seems very careful on the details of its own Green Deal. The Centrica-owned company is providing the customers an opportunity to invest in energy-saving measures such as a new boiler or insulation, bringing into the knowledge that the loan's repayments will be offset by the resulting lower bills.

In UK, household budgets are stretched due to inflation and Britain's housing stock which is spent on heating the people’s homes also proved wasted because of poor insulation. According to the government, by rising energy prices, it should not be considered as higher bills. The government offers a deal to the customers how they can improve their homes and save money by cutting bills, all at no upfront cost (not to be paid out at the beginning of a business arrangement).

But it's open only to those who are buying gas and electricity from the company and are paying by direct debit. Under this deal, British Gas sends an energy expert to the customers’ houses to recommend energy-saving measures to them. Loft insulation and cavity wall, hot water tank jackets, thermostatic radiator valves and programmable thermostats are all likely to feature. Then the customers will be given a projected amount which they can save if they install the recommended measures. Need cash to pay your pending bills apply with unsecured loans for bad credit @ and get the required cash without any hassle?

In order to implement this deal, customers under the terms of the deal have to take out a Barclays Finance loan to cover the cost of the measures at an annual interest rate of 6.9%. The money will be repaid over an agreed five, 10 or 15-year time-period, and the repayments should be less than the savings made. The company is also offering customers the chance to buy solar PV systems but in that case customers require a big deposit. The Centre for Economics and Business Research also agreed that the customers who adopted a range of simple measures had successfully saved on average £322 each year, and saw a noticeable 44% decline in their gas use. This statistic came into light earlier this year only.

Ross Sorin - About Author:
Ross Sorin is expert financial adviser. He gives his expert views on finance UK. He writes articles for unsecured loans for bad credit, loans for retired people and long term loans.

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