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Tamsin Lishman, Kensa’s chief executive, says the approach means households still have a “heating box in a cupboard”, similar to their gas boiler.
“We see massive potential for this to replace the gas grid,” she explains. “They work everywhere, but we see them as particularly suitable for medium-density housing, by which I mean classic terraced streets.”
Kensa’s investor, L&G, also believes the technology is scalable and is looking to partner with the company to become a major owner of heat networks in the UK.
“They’ve delivered it to social housing, retrofitted blocks of flats, new build development sites and a village, so it’s very exciting that it can have such a beneficial impact for society,” says John Bromley, managing director of clean energy investments at L&G Capital.
“But also, on our end it’s actually a sensible investment that makes good returns.”
Yet there are still questions about how heat networks will work in practice, including how consumers will be protected from the risk of unfair prices.
The Heat Trust, a non-profit consumer champion, warns heat networks are de-facto monopolies, with customers unable to change suppliers.
Most are also owned by landlords who outsource their operations to specialist companies, which can lead to a lack of transparency about how fees are calculated.
Perhaps most crucially, heat networks are not covered by the energy price cap, which proved disastrous for some consumers during the 2021 energy crisis.
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