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Finance

Boiler Upgrade Scheme leaves millions of pounds unspent

Millions of pounds remain unspent from the government’s flagship Boiler Upgrade Scheme (BUS).

According to official data, the BUS has more than £95 million of the total £150 million still unspent.

The scheme, which was launched by the government in 2020, aimed to provide financial assistance to households looking to upgrade their old and inefficient boilers to more energy-efficient models.

The scheme was part of the government’s efforts to reduce carbon dioxide emissions and promote energy efficiency across the UK.

Despite its good intentions, however, the scheme has not been as successful as anticipated. The latest figures reveal that out of the total £150 million allocated for the scheme, only around £55 million has been claimed by households so far.

According to Ofgem, officials received 14,302 voucher applications, with 10,756 BUS vouchers issued.

These vouchers are worth £54,3 million, according to the report.

Last month, Energy Minister Graham Stuart said the unspent money for the BUS this year (which ends 31st March) would not be carried over to next year.

A few days ago, the Chair of the House of Lords Environment and Climate Change Committee told ELN that the scheme had a “really disappointing” first year.

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