UK Businesses are Wasting £60m on Avoidable Energy Costs

by | Feb 10, 2020

In uncertain economic times, businesses should be looking to save money wherever they can. Yet a new report from the think tank Green Alliance revealed that commercial properties in the UK are wasting energy amounting to £60m in unnecessary energy bills. The report calls for better commercial energy management to help reach the UK’s climate targets, and it’s clear why. 

Some of the report’s findings 

  • The built-up environment accounts for 40% of national energy use
  • It also accounts for around one-third of emissions
  • Wasted energy from the City of London’s offices is equivalent to the amount used to power more than 65,000 homes
  • This is costing businesses in the city £35m a year. 
  • Unnecessary energy use generates carbon emissions equivalent to 46,000 cars annually.
  • Energy waste across less than 3,300 offices in Manchester, Bristol, Leeds and Birmingham could power more than 42,000 homes
  • This wasted energy and is costing businesses £25m annually in avoidable energy bills.

Where energy is commonly wasted 

  • Leaving lights on at night
  • Wasting heat
  • Leaving devices plugged in
  • Using old, inefficient electronics
  • Neglecting to maintain equipment to keep it running efficiently 

Meeting climate change targets 

The UK has set an ambitious net-zero emissions target for 2050. The Government has also committed to cutting energy use by at least 20% by 2030. Legislation and proposals include plans for all rented commercial building to operate at a minimum energy efficiency standard of EPC band B by 2030. Government claims that this alone could save businesses £1bn per year in energy bills.

Reducing energy waste is critical to achieving these goals, and the Green Alliance report calls on businesses to turn to technological innovations to save money and reduce emissions.

What’s the solution?

Along with implementing quick wins and longer-term strategies to save energy, digital technology such as energy monitoring software is an inexpensive way for companies to track and control energy use, allowing them to identify where they can cut business costs and carbon emissions. 

An expert energy consultant like Smarter Business can guide your business through the process of becoming a more energy-efficient organisation. Get in touch to find out more. 

Source: edie newsroom

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