New Government Scheme Aims To Save Energy For Businesses

11 July 2013

A new scheme being introduced to promote energy saving amongst UK companies could save firms £1.9 billion, the Government has revealed.

The Energy Savings Opportunity Scheme (ESOS) will make it obligatory for large enterprises to conduct energy saving assessments every four years.

The scheme has been launched by the Department of Energy and Climate Change (DECC) as part of the UK’s implementation of the EU Energy Efficiency Directive, which aims to cut carbon emissions and save energy across Europe.

The energy saving assessments will identify measures which companies can take to reduce the cost of their energy bill. These include the likes of Cavity Wall Insulation, Roof Insulation, improved heating systems, and private power generation.

The scheme follows in the wake of the Green Deal, a Government initiative offering financial support for UK residents and businesses looking to save energy. While the Green Deal is not exclusive to residential properties, the greater focus of the scheme lies with improving the energy efficiency of the UK’s housing stock. The ESOS scheme will solely focus on business properties.

“Effective energy efficiency means cutting out waste and increasing profits,” said Energy and Climate Change Minister Greg Barker.

“These new energy saving assessments will help our largest firms identify where money can be saved by installing energy efficiency measures. The potential benefits of cutting down on energy waste are significant - £56,400 savings per year on the energy bills of the average large business, and £1.9 billion benefits to the UK as a whole.”

The sum of £56,400 savings is based on a company investing £15,000 on energy saving measures, including Cavity Wall Insulation and Roof Insulation. By those figures, companies’ bottom lines could be looking much better as a result of the scheme.

Energy Minister Michael Fallon reiterated Barker’s thoughts. “Investing in energy efficiency can hugely benefit our big businesses, helping British businesses get ahead in the global race. Energy saving assessments will show exactly where the biggest savings can be made and if firms then go forward and invest, they will soon see the benefits.”

The scheme will be applicable to companies with 250 employees or more, or those with fewer than 250 employees that have both an annual turnover of EUR 50 million and an annual balance sheet that exceeds EUR 43 million. The scheme does not cover public sector companies.

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