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.
News Image
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.


Related Northern Ireland News Stories
Click here for the latest headlines.

04 December 2020
8,000 New Homes Needed Across Ards Area
NI Water has announced that the Ards and North Down area will need around 8,000 new homes by 2030. The company made the announcement at the Ards and North Down Borough Council meeting, to update representatives on infrastructure plans going forward and the level of investment needed for the Council area.
30 November 2020
Health Minister Urged To 'Get To Grips' With NI's Cancer Crisis
The Health Minister Robin Swann has been urged to "get to grips" with the cancer crisis gripping Northern Ireland and ensure those who need urgent medical procedures for cancer are not treated as being of secondary importance to Covid-19 patients.
26 November 2020
NI Water Announce 10-Year Plan To Plant 1 Million Trees
As Northern Ireland's second biggest landowner, NI Water has launched an ambitious 10-year plan to plant at least 1 million trees. The initiative has been undertaken as planting trees improves water quality, captures carbon, mitigate floods and enhances the natural environment.
26 November 2020
NI's First Ever Clean Air Strategy Launched
With some 800 deaths per year associated with air pollution, Northern Ireland's first ever Clean Air Strategy has been launched by Environment Minister Edwin Poots.
25 November 2020
Concerns Raised Over Sickness Absence In NI Public Sector
Public sector leaders must be empowered to address levels of sickness absence in the Northern Ireland public sector, Alliance MLA John Blair has said, following a report on attendance in central and local government.