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ECO3 Scheme to include heating oil

ECO3 Scheme to include heating oil

ECO3 Scheme to include heating oil

Eco3

Welcome news has been received from the government’s consultation on its ECO3 Scheme that took place in May 2018. The Federation of Petroleum Suppliers (FPS) amongst others submitted vital evidence to aid the government’s decision, resulting in heating oil being incorporated into the initiative. 

To tie in with its Clean Growth Strategy, the Department for Business, Energy & Industrial Strategy (BEIS) has released new guidelines for its ECO3 scheme which will include heating oil boilers under the broken heating cap of 35,000 systems. By including heating oil boilers in the latest ECO strategy, BEIS has recognised that replacing a heating oil boiler with an energy efficient oil condensing boiler, instead of pricier alternatives, is the right way forward. 

This will help rural households on lower incomes to replace broken or inefficient oil boilers, as they will be permitted to upgrade under the new system, as long as they are installed with the correct insulation. 

More than one million homes in the UK currently run on heating oil and over 250,000 businesses too. Of these households 16% of them are considered as living in fuel poverty, which is well over the national fuel poverty average of 11%.  

Newer oil condensing boilers are considered to be up to 90% more efficient than traditional oil boilers and can reduce heating costs by up to 30%. New models of condensing oil boilers can also reduce CO2 emissions by a further 30%. 

With the government and the oil industry working together BEIS can still achieve its goal of reducing emissions without penalising households that rely on off-grid heating alternatives.

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