The UK Department of Energy and Climate Change (DECC) has unveiled new energy efficiency measures for larger domestic firms, which could deliver economic benefits totalling £1.9bn a year.
The new energy saving assessments, developed under the Energy Savings Opportunity Scheme (ESOS), require companies to identify opportunities to invest in energy efficiency, help reduce energy bills and increase competitiveness.
On average, it is expected that an enterprise will invest £15,000 a year in energy efficiency measures and benefit from bill savings of £56,400 per year.
The scheme is being developed as part of the UK Government’s implementation of the EU Energy Efficiency Directive, while consultation on the new proposals will run until 3 October 2013.
As per the directive, larger businesses with more than 250 employees or an annual turnover exceeding €50m will participate in the ESOS.
UK Energy and Climate Change Minister Greg Barker said effective energy efficiency means cutting out waste and increasing profits.
"These new energy-saving assessments will help our largest firms identify where money can be saved by installing energy efficiency measures," Barker said.
UK energy minister Michael Fallon said investing in energy efficiency can benefit British big businesses.
"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," Fallon said.
Image: UK Energy and Climate Change Minister Greg Barker. Photo: courtesy of UK Department of Energy and Climate Change.