§ Mr. LidingtonTo ask the Secretary of State for Environment, Food and Rural Affairs (1) how many defaults there have been on the repayment of action energy loans; and what the total value is of the loans on which defaults in payment have occurred; [132665]
(2) how much money has been committed to the Carbon Trust in action energy loans in each year since the loan scheme was established; what the average time agreed for the repayment of a loan is; and if she will make a statement; [132666]
(3) how many applications for action energy loans have been made to the Carbon Trust in each year since the loan scheme was established; how many applications were successful; and if she will make a statement. [132667]
§ Margaret BeckettThe Carbon Trust is a private company launched in April 2001, as part of the Climate Change Levy package, to take the lead on energy efficiency for business and the public sector, and to support the development of a low carbon economy in the UK. The Carbon Trust's Action Energy loans scheme provides interest-free loans of between £5,000 and £50,000 to small and medium-sized enterprises for energy efficiency projects.
The Action Energy loan scheme run by the Carbon Trust is financed through its grant funding from Defra and the devolved Administrations. The Action Energy loan scheme covering England and Wales became fully operational in January 2003. Loan agreements with companies based in England and Wales operate with a fixed repayment schedule over 48 months. In April 2003 Loan Action Northern Ireland ceased and the Carbon Trust launched Action Energy Loans in its place. Loan agreements with companies based in Northern Ireland operate a repayment schedule over 12, 24, 36, or 48 months depending upon the value of the projected energy savings.
The Carbon Trust inform me that since becoming fully operational in January 2003 the Action Energy loan scheme has, up to the end of September 2003, received 458 enquires about the scheme and formally agreed 49 loans with a value of £1,325,916.63 (these data incorporate figures from Northern Ireland from April onwards), and to date there have been no defaults on Action Energy Loan repayments.