Heat network developers have written to the Chancellor, Rachel Reeves, to commit to dramatically reducing the cost of low carbon heat for consumers.
The commitment comes from three heat network bodies – ADE: Heat Networks; the Heat Networks Industry Council; and the UK District Energy Association – that represent over 250 organisations, £9 billion of potential investment and more than 5,000 jobs.
Heat network developers have pledged to achieve a 7.5% reduction in the capital cost of building heat networks and a 20% cut in the cost of electricity consumed by them by 2030.
Caroline Bragg, CEO of ADE: Heat Networks, said: “Decarbonising heat without putting up bills is one of the most important political and moral challenges of our generation. The heat networks industry is already playing its part. We are ready to harness wasted heat from our rivers, industries and renewables to cut bills. We welcome partnership with Government to resolve this challenge.”
Simon Woodward, Chair of the UK District Energy Association, said: “This commitment is a promise to build on solid foundations – to drive down costs through smarter engineering and operational excellence. We’re ready to roll up our sleeves and work with Government to ensure these local energy projects become the backbone of the UK’s low-carbon future.”