‘Large energy users can expect bills to rise £3m in next decade’

Firms using around 6,000 megawatt hours of energy can expect their bills to rise £3million in a decade, according to experts. Richard Hilson, Client Partner at 5th Energy says: “Given […]

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By ELN reporter

Firms using around 6,000 megawatt hours of energy can expect their bills to rise £3million in a decade, according to experts.

Richard Hilson, Client Partner at 5th Energy says: “Given that the Government has agreed a strike price with the Hinkley Point consortium when it starts to generate energy in 2023 – at double the current wholesale prices – and the fact that the EMR and capacity mechanism is likely to add between £13 and £25 per 100 MWh to bills by 2020, not to mention carbon tax increases, we are almost certainly looking at a minimum of an 8% electricity cost increase year on year.

“For an organisation at the 6000 Megawatt hours CRC threshold these increases represent over £3m additional spend over 10 years (at 9p per kWh and CRC credits at £16 per tonne).”

He says this means there are “three million reasons” why the investment focus is on ‘Using Less’.

On top of this with the “right auditing, due diligence and expertise”, these investment outcomes can have a high level of certainty and what’s more the results can be measured and verified, he adds.

But how do you identify and target the best opportunities within your buildings? How sure can you be that the predicted savings will be made? Will you meet your next set of energy targets? How much further can you go? What contribution will local renewables play in your strategy, if any?

Richard says that’s where EL2013 comes in: “5th Energy is delighted to again sponsor this year’s conference and we take pride of place at the centre of the Network Zone and the centre of the debate at EL2013 – asking you the relevant questions and, in return, providing some useful insights on how to leverage the maximum out of your energy efficiency opportunity.”

Richard goes on: “Whether you drop by the Network Zone for a chance to win one of the fantastic prizes in our light-hearted quiz or you come to case study corner to learn how 5th Energy are helping Cofely and Goldsmiths to make annual savings of 3000 tonnes of CO2 (guaranteed!) we look forward to meeting you at EL2013.”

5th Energy are sponsoring Energy Live 2013 at the London Film Museum in Covent Garden.