Money saved from RHI should be put to better use - Murphy
Speaking after Sinn Féin received a briefing on RHI from Department for the Economy officials Conor Murphy called for the RHI scheme to be shut down completely and money saved should be used for alternative renewable energy schemes.
Conor Murphy said:
“I am dismayed that more than two years after the RHI scandal contributed to the collapse of the institutions only 15 percent of sites with inspections completed have been found to be compliant with the regulations of the scheme.
“Today the Department for the Economy confirmed the continuation of the RHI scheme with reduced tariffs.
“However, even with reduced tariffs the RHI scheme is comprehensively and irretrievably flawed and will cost the taxpayer another £70m.
“Spending more public money on it is unjustifiable.
“It is at best ineffective and at worse counterproductive in doing what it was supposedly established to do – reduce carbon output.
“Under the proposed tariffs RHI participants will receive an average of a 60 percent rate of return compared to the 12 percent rate of return intended.
“RHI should be shut down completely and investment redirected towards reducing carbon emissions and tackling climate change.
“We received confirmation that the British Treasury is willing to consider using money saved from RHI for alternative renewable energy schemes.”