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Installing energy efficiency could be £12 billion cheaper than the construction of the Hinkley Point C new nuclear power plant.
The cost of implementing energy efficiency measures is estimated to be less than £6 billion, while the construction of the new nuclear plant Hinkley Point C is expected to cost around £18 billion.
Utilitywise has called this cost an “unnecessary expense” and highlighted the opportunities to reduce energy consumption through efficiency.
The company’s strategy and innovation director Jon Ferris said: “Consumers are increasingly looking at energy efficiency to reduce the impact of levies that are contributing more and more to the cost of electricity consumption.
“Not only can individual businesses make significant financial savings, but the UK could offset more than the expected output from Hinkley Point C by taking all the opportunities to save energy,” he said.
The consulting firm which carried out audits for around 200 UK businesses as part of the Energy Savings Opportunity Scheme (ESOS) found that more efficient lighting and heating improvements would reduce energy consumption by more than 460 GWh.
EDF’s new nuclear power station, Hinkley Point C got the go-ahead from the supplier yesterday but the government has since delayed its confirmation. The power station is predicted to provide seven per cent of the UK’s current electricity demand. The expected cost of support for Hinkley is expected to add £37 billion to consumer bills.
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