Minimum Energy Efficiency Standards (M.E.E.S.)
Landlords – next year sees important changes affecting properties with poor EPC ratings. The cost of compliance with this legislation could be huge. NetRent are pleased to announce that we have a solution that could save you these huge upfront costs.
How are you affected?
Beginning in April 2018, landlords which grant new leases of properties—including renewals and extensions— rated ‘F’ or lower, face substantial fines.
What should you do?
Identify any property with an EPC rating lower than ‘E’, and create a plan to raise its rating. To check the property’s EPC rating go to https://www.epcregister.com/reportSearchAd dressTerms.html.
What is the Solution?
Energy Savings Performance Contracting (ESPC) is a form of financing for capital improvement which allows funding of energy upgrades from cost reductions. Under an ESPC arrangement an external organisation (ESCO) implements a project to deliver energy efficiency, or a renewable energy project, and uses the stream of income from the cost savings, or the renewable energy produced, to repay the costs of the project, including the costs of the investment. Essentially the ESCO will not receive its payment unless the project delivers energy savings as expected.
How can we help?
NetRent’s business partners PIB Insurance Brokers have teamed up with Packaged Energy Solutions Ltd who will provide a funded ESPC solution, which may require some level of contribution depending on the level and extent of interventions required versus the savings benefits. Under such scheme the anticipated savings are covered by an Insurance Policy for any shortfall, for whatever reason
Although the regulations do not introduce punitive measures until 2018, prudent property owners and landlords may want to start the upgrade process now to ensure its success. For more information, contact NetRent on 01352 721300 or email [email protected]