A report on the Federal Government’s Energy Efficiency Opportunities (EEO) Program shows that at December 2010, the 207 reporting corporations had identified opportunities to save 141.9 PJ of energy per year or 9.8 per cent of their assessed energy use. This represents 2.5% of Australia’s energy use, and is a 25% increase on the energy savings of 113.7 PJ identified by December 2009.

 

From these identified savings, corporations reported that they will implement opportunities that will deliver annual energy savings of 75.5 petajoules or 1.3 per cent of Australia’s total energy use.

 

Releasing the updated figures, the Minister for Resources and Energy, Martin Ferguson said it 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.’

 

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 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 and will be required to undertake regular assessments of their potential to save energy and report publicly on assessment outcomes.

 

The full EEO Program result update is at www.ret.gov.au/energy/efficiency/eeo