Energy Secretary, Ed Davey, has announced that £10m will be made available to UK businesses to help improve energy efficiency and reduce overall demand.
Speaking at the CBI’s Energy Conference, Mr Davey highlighted that £45bn had already been invested in the energy sector between January 2010 and December 2013, with almost £8bn of that dedicated to renewable technologies.
He then went on to detail the £10m Electricity Demand Reduction auction scheme which will be launched, as part of a £20m pilot budget. Businesses will compete for a share of the fund in order to finance projects which would reduce energy demands and in turn cut the cost of electricity bills and see a reduction in carbon emissions.
One of the Government’s key criteria is for a business to deliver 100kW of savings through the peak winter period. Expressions of interest opened on the 29th July and over 300 organisations have already indicated they are considering participation.
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