Orbit Group will invest £17.98 million into a programme of energy efficiency works to March 2016. Of this figure, £2.18 million is from ECO funding.
This investment is in line with Orbit’s target to dramatically reduce fuel poverty amongst its customers, and have all its homes at EPC Band C rating by 2020.
The £18 million commitment will see 2,604 homes being improved to an EPC Band C rating. This will equate to nearly £13 million of lifetime energy savings generated for Orbit customers. Per customer this is £7,700 per household over the lifetime of the measures, with an average reduction on energy bills of £160 per year.
This has a huge environmental impact, with an estimated carbon reduction of 68,000 tonnes resulting from works.
The ECO funding has been received from two different energy companies. In the Midlands, £1,788,000* has been secured from British Gas, with Wates Living Space appointed as contractor. In the South East and East, £392,000 has been secured from EON, with MITIE as the contractor.
John Barnham, Head of Sustainable Investment for Orbit Group, said: “This announcement isn’t just about investing in homes, it’s about investing to change people’s lives. Fuel poverty has a huge impact on wellbeing as well as wallets – we need to do what we can to prevent it.
“By working with key strategic partners such as British Gas, EON, Wates Living Space and MITIE, I am confident we will fulfil our 2020 ambition of Band C homes for all our customers.”
Stewart Reid, Business Director of Wates Living Space, commented: “This is an important project that will ultimately result in substantial fuel savings for Orbit’s residents and enable them to live comfortably in warm properties for less. However, our work on projects like this goes beyond building and will result in numerous economic and social benefits for local people through a programme of community engagement and employment and training opportunities.”
Mathew Bishop, Director at Mitie, said ‘As a strategic partner we are pleased to be working with Orbit in improving the energy efficiency of their homes through this programme.’
Jane Allen, British Gas, said: “We are very pleased to be working with Orbit and we are certain that this project will make a real difference householders. Through this funding we are helping the local community to live in a comfortable, warm environment whilst keeping their energy bills down.”
*In October Orbit announced £588,000 of ECO funding from British Gas – this is included in the £1,788,000.