Skip to content
Back to News

Businesses given access to £10m to improve energy efficiency

The government is offering companies across the UK a share of £10 million set aside to help them improve their energy efficiency and reduce their annual power bills.

It is hoped the initiative will make it easier for businesses to boost their environmentally-friendly provisions, while also encouraging industries to make a greater investment into the energy sector.

Energy and climate change secretary Ed Davey announced details of the scheme during the Confederation of British Industry's Energy Conference, stating his hope that it would form part of a strategy that was aiming to create a low-carbon energy system that would be responsible for supporting as many as 250,000 jobs over the next six years.

"We are building a secure, sustainable energy system for the future, dealing with an historic legacy of underinvestment and neglect that threatened to undermine the whole economy," he said.

Mr Davey added that the Department of Energy and Climate Change (DECC) hoped to attract capital investment to the energy market by "stripping away" existing barriers, which would ultimately lead to "real benefits" for the UK economy and its consumers.

Delegates also heard how the initiative would contribute to strengthening the country's stance of being an energy-secure nation.

Part of this new project involves the introduction of the Electricity Demand Reduction pilot, which will offer organisations the opportunity to bid for funding to replace their current facilities with more modern and efficient alternatives.

The scheme will run for two years and could shape how policymakers shape future projects. DECC is looking for any company that has ideas for projects that can result in the saving of at least 100 kilowatts during the winter peak season. It said that local councils, airports, banks and retail chains have already been in touch to express their interest.

Posted by Paul Taylor