Energy Costs

Increased energy costs

Climate change is intimately linked to the issue of energy security and both these issues provide impetus for the search for high efficiency, low-carbon energy sources and technologies.

While climate change may penalise those who use energy inefficiently due to the imposition of tighter energy efficiency standards and carbon penalties, rising energy prices may also impact private sector finances. Impending increases in the price of oil and gas necessitates adoption of more energy efficient products and production processes. Companies may have to spend more money increasing energy efficiency.

Although some of the technologies available for emissions reduction can have a long payback period, becoming a low carbon business does not have to require fundamental changes in a business's structure or essence. For the average company, adaptation to the challenge of climate change often starts with recognition of the issue and the implementation of cheap energy saving measures which can develop into a full environmental management system (EMS). Measures that increase the energy efficiency of an organisation, such as the improvement of insulation or the launching of an energy awareness campaign at work, can lead to continuous improvements in operational efficiency and significant cuts off your energy bill.

Benefits of increasing energy efficiency and decreasing reliance on fossil fuels are manifold. They will lead to a more diversified and energy efficient fuel source thereby helping the Irish economy shift away from fossil fuels and import dependency. Implementing carbon reduction measures provides opportunities to improve the operational efficiency of a company and reduce resource and energy costs. Securing alternative energy sources and increasing efficiency will make companies less susceptible to predicted price increases in oil and gas supplies.

The ‘Action’ section outlines how you can implement resource management strategies in your company.