£10m Redress Fund to support ‘vulnerable’ consumers

The scheme offers charities across the UK the opportunity to apply for funding for energy related projects.

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The Ofgem Energy Redress Scheme, managed and delivered by Energy Saving Trust has secured a fund of £10m to offer charities across the UK support their vulnerable consumers.

Reopening for applications on Monday 19th August, the fund is said to be the largest amount available under the scheme.

As reported by 24housing, the scheme previously awarded more than £2.1m to 15 charities across the UK.

The fifth round of the project offers charities the opportunity to apply for funding for energy related projects – with applications for the next round closing on Friday 18th October.

Officially named the ‘Energy Industry Voluntary Redress Scheme‘, the initiative collects voluntary payments from energy companies to make reparations for effects on energy consumers.

The priority of the scheme is to support individual energy consumers in ‘vulnerable situations’, with a small percentage of the fund said to be available to support products and services that will help existing or future energy consumers.

The fifth round of the Energy Redress Scheme has three separate funds to ensure that projects of a similar nature and scale are assessed against each other. These include:

  • The Main Fund – containing £7.5m and aimed at projects seeking grants between £50,000 and £2m
  • The Small Grants Fund – containing £1m and aimed at projects seeking grants of between £20,000 and £49,999
  • The Innovation Fund – containing £1.5m and aimed at projects seeking grants between £50,000 to £750,000 that support the development of innovative products or services to provide benefits to energy consumers

Mike Thornton, Group Director of Operations at Energy Saving Trust said: “We are very pleased to be able to distribute a substantial pot of funds to provide benefits to energy consumers through this round of the Energy Redress Scheme.

“Supporting a diverse variety of charities in their work to reduce fuel poverty and improve energy efficiency is even more important at a time when energy issues are a key focus for everyone.”

Charities interested in applying are encouraged to register in advance of the opening date for applications of Monday 19th August.

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