Energy initiatives in the Mayor’s new budget

February 2013: Following a short consultation period, the Mayor’s final 2013/14 Budget for the GLA Group has just been agreed at City Hall.  A press release sets out that this budget comprises funding for the the “Mayor’s Office for Policing and Crime, Transport for London (TfL), the London Fire and Emergency Planning Authority (LFEPA), the London Legacy Development Corporation, and the Greater London Authority including the London Assembly. The total budget for GLA Group services is £16.5 billion.

The final documents are posted here. In terms of funding directed to energy programmes, the background statement to the budget sets out that:

“The Mayor is continuing to work towards improving London’s environment. Energy supply and master-planning is key to delivering sustainable development for London’s economy. Investment will continue through a Decentralised Energy programme (with £1.3 million over the next two years) which provides technical, commercial and financial advisory support to partners to help them bring their decentralised energy projects to the market. This work builds on the mapping of opportunities identified through the London Heat Map. Work will also progress with partners towards a district heating demonstration project, supported by European funds.” [para 5.8]

Also mentioned is that finance will be directed to homes in London through “a fund of up to £300 million with the European Investment Bank to deliver carbon-efficient affordable homes” [para 5.4]. This relates to a loan organised by The Housing Finance Corporation (THFC) and the EIB which should be available to be utilised shortly by London housing associations – see here, here and here for further information. The funding will be managed by THFC.

Though a few other environment-related projects are mentioned in the background statement document, and reference is made to energy efficiency work to be undertaken by LFEPA and also TfL, no mention is made of the Mayor’s RE:NEW home energy efficiency retrofit scheme, or RE:FIT or RE:CONNECT – however, with the budget only just finalised, it may be the case that further information is yet to be released.

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