Businesses failing to realise the money saving potential ESOS holds

Businesses failing to realise the money saving potential ESOS holds

Businesses across the UK who have complied or are yet to comply for ESOS, are failing to realise the potential the scheme holds in order to generate real savings in the future if acted upon.

The Energy Saving Opportunity Scheme (ESOS) is UK legislation which mandates nearly 10,000 organisations in the UK to audit their estates to establish opportunities for savings in energy.

The scheme is mandatory for companies who have either 250 or more employees or an annual turnover and balance sheet exceeding €50m and €43m, respectively.

By simply complying due to the scheme being mandatory, many companies seem to missing the point of ESOS.

The scheme is a worthwhile investment for businesses, as it is in place to identify opportunities to reduce energy use and to cut consumption, emissions and cost accordingly.

Although there is no statutory requirement to take action on the listed opportunities outlined from ESOS, to not do so would result in the scheme being a costly compliance opposed to being an opportunity to invest in order to achieve real savings in the future.

Around 20% of businesses have wasted annual energy costs due to the use of inefficient energy  equipment. The Energy Saving Opportunity Scheme has helped organisations save over £5.5billion, furthermore reducing CO2 emissions by 60 million tonnes.

It is crucial for businesses to not only identify ESOS as mandatory legislation, but also as an opportunity to save on energy bills generating a worthwhile investment for the future.