UK offers £10m to improve energy efficiency and reduce electricity demand

The UK Government has announced a £10m funding for business, industry and other organisations to help improve energy efficiency and reduce electricity demand.

The electricity demand reduction auction, which has a £20m budget, will provide funding for projects that may not otherwise have happened.

The projects will save businesses money on their bills, cut carbon emissions and reduce demand on the grid.

About 300 organisations have expressed interest in the programme, which will open on 29 July 2014.

The Department of Energy and Climate Change (DECC) said greater electrical efficiency could create savings equal to 9% of total demand by 2030.

The government is testing whether schemes that deliver electricity savings at peak times may get payments in the capacity market.

UK DECC secretary Ed Davey said: “Our plan is powering growth and jobs in the UK economy.

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