energy procurement
Home » Industry News » Spring 2020 Newsletter

Industry News

  • UK energy prices keep seasonally low so now is a great time to renew
  • ESOS Phase 2 deadline has been and gone. If your business is still to comply act now to avoid hefty fines of up-to £90K!
  • Streamlined Energy and Carbon Reporting (SECR) is fast approaching -does your business qualify?

ESOS Phase 2

If you run a business that has –

  • 250+ employees
  • A turnover of more than £250k
  • Or a balance sheet of more than £5k – £90K

you were required to undertake energy audits and report back to the Environment Agency. The deadline of 5th December 2019 has now passed, but there are still thousands of qualifying businesses that have not complied with regulations either by submitting their ESOS audit or by acknowledging their lateness with an ‘Intent to Comply’ form. With fines being issued of up to£90k can you really afford to ignore it? It’s really easy to alleviate the stress and worry. Let BrightSourced take control and get you compliant ASAP. We have a qualified team of lead assessors waiting to help. Call us today to find out more.

Great time for renewal

Gas

A mild weather outlook has certainly helped to keep near-curve prices low. Renew early to take advantage of seasonally low prices.

Power

A healthy wind generation will reduce reliance on gas-fired power. prices are stable and the market shows little sign of movement.

SECR – Streamlined Energy & Carbon Reporting

SECR replaces the Carbon Reduction Commitment (CRC) Energy Efficiency Scheme and requires organisations to report energy and carbon emissions at the end of every subsequent financial year. To fully comply with the SECR framework, you will also need to detail the steps taken to improve energy efficien cy. The data period required is the 12 months of your previous financial year. This report will be either part of your annual accounts, filed with Companies House or included in your directors’ report or in an equivalent report such as an Energy and Carbon report.

 

The Benefits

  • Encourages more businesses to implement energy efficiency measures.
  • Highlights potential business risks due to climate change.
  • Captures link between environmental KPI’s and financial performance.

Do you need comply?

SECR applies to all UK companies with over 250 employees or an annual turnover of more than £36m or an annual balance sheet of over £18m. There is an exemption for businesses who use less than 40M wh over the reporting period, however you’ll need to include a statement confirming your energy use. Publicsector organisations are also exempt. 

At BrightSourced we provide a holistic approach to managing your utilities to suit individual requirements.