Footprint reporting expert emphasises energy efficiency implications of Budget 2014
In the ‘Made in Britain’ budget announcements this month, George Osborne revealed that UK manufacturers will receive nearly £7 billion to help counter their energy bills.
In the Spring Statement, the Chancellor of the Exchequer said that this Carbon Price Support will be capped at £18 per tonne of CO2 from 2016-17 for the rest of the decade. This will save a mid-size manufacturer an estimated £50,000 on its energy bill.
Compensation – worth almost £1 billion – was also announced, in order to protect energy-intensive manufacturers from the rising costs of the Renewables Obligation and Feed-In Tariffs. At Concept Energy Solutions, as carbon management experts, we are concerned that UK companies are not being encouraged to make valuable investments in energy-saving upgrades.
Concept Energy is a carbon reduction specialist and Peter Stockwell, one of our directors, says: “There have been issues with the Carbon Price Support, but it is one of few mechanisms that directly tackles greenhouse gas emissions and encourages investment in low-carbon technologies.”
He adds: “Energy costs are a concern for everyone, but these government measures are short-term solutions for a long-term issue. As energy prices rise, UK businesses need to recognise the advantages of accessing the cost-saving benefits of energy-efficient measures and renewable technologies now – rather than avoiding the inevitable.”