Energy efficiency could save U.K. $2.9 billion, says DECC

The U.K. Department of Energy and Climate Change (DECC) is proposing new energy efficiency assessments for larger firms. These assessments, required by the new Energy Savings Opportunity Scheme will enable companies to identify ways to save money on energy bills by improving energy efficiency and could save about $2.9 billion.

In this plan, large companies could be required to undertake ESOS assessments to identify cost-effective ways to invest in energy efficiency, helping reduce energy bills and increase competitiveness.

Organizations that take up energy efficiency recommendations will face lower energy bills — on average, an enterprise taking up recommendations from energy savings assessment will invest $22,668 per year in energy efficiency measures and benefit from bill savings of $85,231 per year.

Net social benefits of $2.9 billion could be achieved even if 6 percent of the potential energy savings identified through assessments in buildings and industrial processes are implemented by participating organizations, according to the DECC.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs