DECC scheme set to help large companies save £1.9bn for UK economy

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The Government has announced new measures to improve the energy efficiency of large companies in a move which could save the UK economy almost £2 billion.

The Department of Energy and Climate Change (DECC) scheme is being developed as part of the EU Energy Efficiency Directive and will help the country's larger firms save money on energy bills, improve air quality and improve carbon emissions.

Any company with more than 250 employees would be required to have an Energy Savings Opportunity Scheme (ESOS) assessment to identify ways in which the firm can use less energy in their industrial processes, as well as more common things such as the heating and lighting of the building.

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.

"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 £1.9bn benefits to the UK as a whole."

The assessments would be mandatory for all large businesses, but they would not actually need to carry out any of the recommended changes, although the proposed savings for the UK economy would only come to fruition by 2030 if the companies involved implemented six per cent of the recommended changes.

The proposals will complement other Government schemes such as the Green Deal, which, as well as providing homeowners the opportunity to receive cashback on boilers or loans on energy improvement measures, also provides businesses with loans on a range of energy-saving improvements.

Energy minister, Michael Fallon, said: "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."

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