New Energy Efficiency Drive Launched to Slash Business Bills
The UK government has unveiled a fresh campaign to help businesses, charities, and public sector bodies cut their energy costs by boosting energy efficiency. With simple, low-cost changes, organisations can now save big on bills and increase cash flow as government adverts rollout from next week.
Simple Swaps Could Save Your Business Thousands
- The campaign focuses on small and medium-sized enterprises, offering practical tips like installing timers on lights and heating, turning down boiler temperatures, and switching to energy-saving bulbs.
- Despite many firms already cutting back, numerous businesses still miss out on major savings due to lack of information.
- For companies, slashing energy costs by 20% can boost profits just like a 5% rise in sales.
A new website will provide easy advice, covering everything from monitoring current energy use to upgrading equipment to more efficient models.
Success Stories: Savings in Action
- Bedford Carpark switched to LED lighting in 2017, slashing their lighting bills by 50% – saving around £50,000 annually thanks to smart meters tracking usage.
- Marlec Engineering, a Corby-based wind turbine maker, swapped fluorescent lights for LED tubes, cutting lighting costs by 60% without sacrificing brightness.
Marlec’s Managing Director, Adrian Dennis, said: “Upgrading to LED lighting is low-cost and one of the simplest ways to promote sustainability and save money. We encourage others to follow suit.”
Energy Bills Discount Scheme Kicks In as Prices Slide
From today, eligible organisations will start benefiting from the new Energy Bills Discount Scheme, which offers automatic discounts on energy bills until 31 March 2024. This follows a sharp drop in wholesale gas prices to levels not seen since before Russia’s illegal invasion of Ukraine.
The scheme replaces the Energy Bill Relief Scheme, which paid out a whopping £5.6 billion by late March, helping shield UK businesses from soaring costs.
Minister for Energy Consumers Amanda Solloway said:
“We have spent over £5 billion protecting UK industry, saving many businesses around half on wholesale energy costs this winter. With energy prices now lower, this new support continues to back industry and shield those who can’t cut back on energy use.”
Support Expanded to Cover More Businesses
The government also widened eligibility to include non-licensed energy suppliers and private wire users, offering backdated support from 1 April 2023. Trade-intensive industries can apply later this month for even bigger discounts, expecting to save around 20% on wholesale energy prices.
Energy UK’s Deputy CEO Dhara Vyas added:
“Despite price falls, gas prices remain high historically, making this a tough time for businesses. We welcome the campaign to help cut bills now and guard against future crises.”
As the Energy Price Guarantee keeps household bills near £2,500, this new business campaign aims to reduce costs, boost profits, and help the UK hit its net zero goals by 2050.
