21/12/2016

Executive Considering Buy Out Scheme To Reduce RHI Bill

The NI Executive is understood to be exploring a plan to "buy out" the contracts of those in receipt of Renewable Heat Incentive (RHI) payments.

According to reports the Executive is investigating if buying out the contracts would help avoid the projected £400 million loss to NI taxpayers.

It is understood that buying out the contract would incur a cost, but one that is believed to be significantly cheaper than the current cost of the scheme.
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According to the BBC, a voluntary buy out scheme would allow companies in receipt of the controversial payments to relinquish their contracts. However, it is understood that officials are also seeking advice on a compulsory buy out, ahead of completely shutting down the scheme.

(MH/CD)

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