The Energy Savings Trust is to become a social enterprise and seek charitable status according to the Trust’s chief executive, Philip Sellwood.

The move will see the Trust incorporate a new charitable parent company together with a wholly owned trading subsidiary. It says it will maintain its current status so it can continue to manage substantial Government-funded activity.

Mr Sellwood says the plan for change is down to a reduction in public subsidy. “Even after the reduction in funding from DECC, our revenue will still be 75% of previous levels. We are ideally placed to continue our success of winning long-term contracts post-2012 when our DECC grant funding increases.”

The Trust is now seeking investment in its trading arm from like-minded social entrepreneurs and business leaders.