Updated figures released today show Australian businesses are finding more ways to save energy and reduce emissions under the Australian Government’s Energy Efficiency Opportunities (EEO) Program.
Total energy savings identified rose by 25 per cent in 2010 to 141.9 petajoules a year. That is the equivalent energy that 2.8 million households would use annually.
The opportunities that corporations have said they will implement would save six million-tonnes of carbon dioxide equivalent a year – a significant reduction in Australia’s greenhouse gas emissions.
Releasing the updated figures in Melbourne today the Minister for Resources and Energy, Martin Ferguson AM MP said this was evidence that the business community is recognising the commercial sense in reducing their energy use.
“The substantial increase in the amount of savings identified shows that business understands that reducing energy and emissions has economic as well as environmental benefits,” Minister Ferguson said.
“But there is scope to do more to adopt all of the savings identified. If companies implement all the opportunities they have identified, we could save 11 million-tonnes of CO2 equivalent in a year.
“The Government welcomes these results and the commitment of Australia’s business community to take action to reduce greenhouse gas emissions.”
Since it began three years ago the EEO program has been encouraging Australian corporations to find more ways to use less energy. The 280 corporations who participate in the EEO Program together consume almost 30 per cent of Australia’s energy.
Under law, the program requires participants to look closely at how they use energy, measure it and look for savings. As of 1 July 2011 the EEO program is also being expanded to all existing electricity generators, including all coal-fired power stations. Consistent with the Government’s 2010 election commitment they will now be required to undertake regular assessments of their potential to save energy and report publicly on assessment outcomes.
The Government's action to put a price on carbon will also encourage more companies to find energy savings and reduce their emissions.
The full EEO Program result update is at www.ret.gov.au/energy/efficiency/eeo