RHI: Don’t Fall Foul of Not Being Ofgem Audit-Ready!
Tuesday 5th of March 2024 | Posted In: Renewable energy

RHI: Don’t Fall Foul of Not Being Ofgem Audit-Ready!

Ensuring compliance with regulatory frameworks is crucial for businesses, especially in sectors like renewable energy where incentives like the Non-Domestic Renewable Heat Incentive (RHI) can significantly impact operations. At NFU Energy, we understand the importance of staying audit-ready and conducting pre-audit HealthChecks to mitigate risks and ensure compliance. In this blog, we’ve highlighted some of the consequences of failing an audit under the Non-Domestic RHI scheme and the value of getting a pre-audit RHI health check to be on the safe side!

Consequences of failing an audit:

  • Financial Penalties: Failing an audit can lead to substantial financial penalties imposed by Ofgem. NFU Energy's pre-audit HealthChecks help identify compliance gaps early, reducing the risk of costly fines.
  • Loss of Incentives: Non-compliance jeopardizes access to valuable incentives provided by the RHI scheme. NFU Energy's proactive approach helps businesses maintain eligibility for incentives ensuring all your ongoing obligations are being met.
  • Reputational Damage: Non-compliance reflects poorly on a business's reputation. NFU Energy's pre-audit HealthChecks enable businesses to uphold ethical and compliant practices, safeguarding their reputation and building trust with stakeholders.

Importance of a Pre-Audit HealthCheck:

  • Risk Mitigation: A pre-audit HealthCheck identifies and rectifies compliance issues before they escalate, enabling proactive risk mitigation strategies and ensuring audit readiness.
  • Cost Efficiency: Saves businesses significant costs by avoiding hefty fines, legal expenses, and the loss of incentives associated with non-compliance.
  • Operational Efficiency: Helps to streamline internal processes and enhance operational efficiency, which encourages a culture of accountability and adherence to regulatory standards.
  • Stakeholder Confidence: Demonstrating proactive compliance efforts instils confidence among stakeholders, showcasing a commitment to integrity, sustainability, and regulatory compliance.

At NFU Energy we offer a RHI HealthCheck Service to give you peace of mind that your renewable heat system is audit ready. Our experts will meticulously review your system's setup and operations to ensure eligibility for RHI incentives ahead of an Ofgem audit. Get in touch with one of the team on 024 7669 6512 or email [email protected].