The quick route to understanding energy policy
Getting to grips with energy policy is not for the faint hearted, or for those short of time. Yet if you work in an industry where energy is a major business expense, remaining in the dark is not an option either.
A decade ago, I doubt many energy managers or buyers would have detailed ‘understanding energy legislation’ as a top priority. But today, as the government pushes through Electricity Market Reform – instigating the biggest shake up of the energy industry for a decade – understanding what’s going on is key. And not only understanding the different policies coming into force – but more importantly, being able to forecast and budget for their impact on your bottom line.
That’s why at npower, we have a whole team dedicated to going through all the latest energy policy with a fine toothcomb, distilling the ‘need to know’ information and forecasting the cost implications for our customers.
You are probably aware of the many Electricity Market Reform related briefings, consultation surveys, webinars and round table discussions we’ve held over the past few years. Our proactive stance in this area was highlighted by the judges at last December’s Energy Awards, when they named us Supplier of the Year.
As more details of EMR are soon to be released, we’ve been busy creating some additional support materials for business customers in the form of sector-specific ‘Energy Matters’ briefings. These provide clear ‘need to know’ information, tailored to key industries such as manufacturing, healthcare, retail, food and utilities.
Good news for a change
The first Energy Matters briefing looks at the Carbon Price Floor and relief for Combined Heat & Power (CHP) plant. George Osborne’s decision in the last Budget to freeze the Carbon Price Support (CPS) at £18 per tonne from 2016/17 until the end of the decade is estimated to save businesses around £4bn, or somewhere in the region of £50k per year for a typical mid-sized manufacturer.
What’s more, if you operate CHP plant, you’ll be exempt from paying any CPS costs on the power you generate, which is estimated to save businesses a further £300m.
The inaugural Energy Matters will shortly be available on our EMR pages online – visit npower.com/emr to find out more and to download a copy. Alternatively, you could wade through all the source material from DECC, but unless you have lots of spare time I’d take the easy route…
This is a sponsored article.