Abacus Daily Debt News

Boiler scrappage scheme to help those in debt?

Indebted Britons may find that the government’s newly launched boiler scrappage scheme could help them save money on bills, cutting tariffs from between £200 and £235 every year.

Under the initiative, heating systems will be upgraded, with some 125,000 households currently in possession of operational G-rated boilers able to apply for vouchers entitling them to £400 off the modernised A-rated appliance.

Other alternatives include a heat pump or a biomass boiler and energy and climate change secretary Ed Miliband noted that the move will help educate people about energy use, "leading to permanently reduced fuel bills".

And Roger Webb of the Heating and Hot Water Industry Council said that the project is "good on many levels".

"Householders are naturally reluctant to replace a working boiler even though it is wasteful on energy," he continued, adding that bringing in incentives is essential.

In addition, uSwitch.com’s Tom Lyon welcomed the news, although he advised consumers to ensure they shop around to find the most competitively-priced products.

By Sarah Adie