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Energy efficiency loans worth £5m written off by DECC

More than £5.2 million in loans have been written off by the Department of Energy and Climate Change over the past two financial years after companies given advances for energy efficiency projects went into administration, The Telegraph has reported.

The taxpayer-funded loans were to help businesses reduce energy costs through “efficiency projects” but the DECC could only recover £166,000 after the companies suffered financial difficulties.

DECC said there was no reasonable alternative to writing off the loans, as the organisations went into liquidation and the money was not recoverable.

Critics said the write-offs showed the Government’s poor judgment in long-term investments.

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