With just three months to go until the deadline, less than one percent of firms affected by new ESOS regulations are fully compliant, according to Savills Energy.
Over 15,000 large energy users in the UK are required to complete an energy audit by 05 December as part of the Energy Savings Opportunity Scheme, designed to help businesses identify opportunities to reduce emissions and increase energy efficiency.
With only 152 organisations notifying the Environment Agency they are fully compliant, Savills Energy is urging those yet to complete the process to act swiftly to avoid the risk of fines and penalties.
Stuart Campbell, director at Savills Energy, said: “Businesses which fail to comply with ESOS could be fined up to £50,000, plus an additional £500 a day, every day the audit remains outstanding.
“We believe that many businesses in the UK required to comply could recover the financial outlay of recommended actions within two years. Rather than seeing the process as a bureaucratic hurdle to jump over and forget, proactive businesses will identify the energy efficiency improvements the audit sets out as a very efficient way of discovering business-wide cost savings.”