The government are looking to upgrade all UK households with new energy infrastructure. This includes household insulation and boiler upgrades. As well as this they also plan to increase business energy efficiency to reduce the UK’s energy consumption over the next 7 years by 15%.
Other countries across Europe have seen success in keeping their energy prices low and energy security by rationing gas and electricity and trying to keep households’ and businesses’ energy demands low.
The UK has seen how well this has worked, with a drop in consumption plus better energy security in the UK the government could hopefully prevent an energy crisis as we have seen over this past year.
What are the government’s plans?
In February the government announced the new Energy Efficiency Taskforce. This aims to reduce energy demand from 2021 levels by 15% across all business and domestic properties.
For domestic energy customers, the task force plans on upgrading heating systems to reduce gas consumption, by replacing boilers with heat pumps and increasing household insulation.
Whilst for businesses the government are increasing energy efficiency measures to reduce their consumption and energy bills.
The government have appointed £6 billion in funding to support this objective.
The government are hoping that with this new task force paired with the new energy department, energy bills will be reduced and wholesale energy prices will be a lot more stable, preventing a crisis as we have seen over the past few years.
With this task force any barriers to energy efficiency in the UK such as high costs and timely processes should be cleared making it easier for everyone to reduce consumption, not just those who have the time and the money to invest in it.
Will this affect your business?
New energy efficiency plans will not only affect the country, but everyone will benefit from lower energy prices and more energy security.
An increased push on efficiency for businesses could mean now is the perfect time to lower your energy bills and increase security. This will reduce your dependence on expensive fossil fuels and increase business sustainability. You will be less affected by the volatile energy prices which will mean your business won’t struggle if wholesale energy prices rise.
If you would like to get a head start on reducing your business energy, why not read our energy-saving tips here?
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