BUDGET POSITION UPDATE FOR BUS PUBLISHED

The annual budget for the financial year 2024/25 is £180million, with the ability to over-allocate vouchers up to £250million.

The scheme was originally due to end in 2025, but an additional £1.5billion was allocated to extend it to 2028.

Categories (and values) for the current financial year budget are:

• Budget provisionally allocated - £8,937,500 - this includes all undetermined applications. The budget cannot be allocated until property owner consent is received.
• Budget allocated - £31,472,500 - this is a dynamic value, as vouchers expire or return then more budget becomes available for future vouchers to be issued.
• Budget committed - £115,410,000 - this is the total value of vouchers that have been paid within this financial year.
• Budget available - £24,180,000 - this is the total amount of budget not utilised within any of the other categories.
• Over-allocation amount - £70,000,000 - this is the total value remaining for Ofgem to over-allocate vouchers above the current financial year budget.

A full description of the BUS budget and the processes that may be followed should the budget be fully allocated, can be accessed at BUS Installer Guidance.