Valuing the benefits of the Cosy Kingdom energy advice service

The Improvement Service recently published a social return on investment analysis on the benefits provided by the Cosy Kingdom energy advice service. It found that every £1 invested would generate around £34 of benefits.

Cosy Kingdom is a free and impartial energy and debt advice service available to all tenants and homeowners across Fife. It is a partnership between Greener Kirkcaldy, St Andrews Environmental Network and Citizen’s Advice & Rights Fife.

Cosy Kingdom seeks to provide holistic support to individuals by offering energy advice to all. At the same time it ensures that those who need it, or are vulnerable, have additional support. This support includes providing access to debt and welfare rights advice. It also includes providing items to help individuals reduce their energy costs and make their homes warmer through our Handy Service.

The analysis identified and valued the benefits of being able to access the services offered by Cosy Kingdom to individuals and organisations in Fife. It also looked at the contribution the activities it supports makes to the environment. Often only the individual financial gains from access to energy advice are measured. This report goes further by identifying and valuing the health and wellbeing benefits that are also experienced.

As well as the multiple benefits experienced by individuals, the report considers the support Cosy Kingdom offers to organisations. These include a more effective use of resources and sharing skills. The report also takes into account the contribution that Cosy Kingdom makes to the environment by reducing energy consumption. Carbon reductions linked to Cosy Kingdom created the greatest impact.

The analysis also found evidence that offering access to free energy advice is an effective way of engaging with older people and supporting them to make claims for social security benefits.

The report found that every £1 invested would generate around £34 of benefits. By applying a sensitivity analysis, or varying any assumptions made in the calculation, the value of the benefits derived ranges from between £30 and £36.

You can read the full report or an executive summary on the Improvement Service website.