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Procurement plan 'can help UK growth'
The Cabinet Office has announced details of a landmark energy buying scheme aimed at stimulating economic growth and reducing the burden on the taxpayer.
Under the terms of the Energy for Growth initiative, 25-year contracts will be offered directly to renewable power providers for the first time ever.
As well as helping out sustainable energy suppliers, the plans should save taxpayers up to £155 million over 15 years by agreeing the very best price in exchange for the financial security offered to electricity companies.
If the pilot scheme is successful, the Government Procurement Service will diversify half of its entire energy portfolio, which is currently worth £750 million.
H&V News recently reported that Infrastructure Forum Advisory Council chairman Richard Threlfall wanted to see improvements made to procurement and infrastructure developments in England and this new project could be the first step towards this.
Meanwhile, Cabinet Office minister Francis Maude said of the Energy for Growth plans: "This pilot will take us a step further towards our goal of hedging more of our energy needs against future price fluctuations - protecting the taxpayer."