In a world that is rapidly gearing up towards a reduction in carbon emissions, all businesses need to consider their energy efficiency. SMEs may think energy isn’t something they need to concern themselves with – but cost savings can be significant.
As a business, you should demonstrate efforts to lower your emissions, while government legislation further cements the global intention to decarbonise and increase energy efficiency. To make sure you don’t miss any vital deadlines and risk fines or worse, you should keep these key events for your business diary.
SECR – End of each financial year
Due to the pandemic, many companies found their end-of-year accounts filing date delayed until early 2021 – this means that, at the time of writing this, many businesses are yet to submit their final accounts. If your business meets the SECR criteria, you must include carbon emissions in your end of year report. This is a mandatory requirement and will be an annual requirement.
If you need help with calculating the figures related to SECR or understanding how to report on them, we can help. Whether you’ve delayed your end of financial year reports until now or you want help when next compiling them, contact us today.
Energy Contract End Date – Varies
Energy contracts can be a huge source of energy wastage if you’re overpaying for your energy or your supplier lacks renewables in their supply mix. However, there are a variety of contracts you may be on and being able to switch will depend on knowing the end date.
For micro-businesses which have fewer than 10 employees or has a balance sheet no greater than £2million, energy suppliers are mandated by Ofgem to put an end date only fixed-length business energy plans.
If your end date isn’t on your bills, you may have to find your original contract. If that fails, you can also contact your supplier directly to ask them when your contract will end.
Once you know the end date, you can begin looking for a more energy-efficient deal that prioritises renewable energy and can lead to reduced costs.
ESOS Phase 3 – 2023
The Energy Savings Opportunities (ESOS) scheme, demands that businesses with over 250 staff, a turnover of over £44.1m or an annual balance sheet over £37.9m
You will need to comply with ESOS if your organisation has over 250 members of staff; or a turnover of over £44.1m and an annual balance sheet of over £37.9m; or is part of a larger organisation which falls into any of the above.
ESOS happens in phases. Every four years, companies meeting the above criteria must assess their energy usage and find new ways to save energy or face fines of up to £90,000.
A Comprehensive SECR and ESOS Management Service
Make SECR and ESOS simple with Integral Energy. We’re combining our energy management service to offer a discounted rate for SECR and ESOS reporting. This new plan covers:
- 2021 SECR Year 1
- 2022 SECR Year 2
- 2023 SECR Year 3 plus ESOS Phase 3
Get in touch today to check if your business falls into SECR or ESOS criteria and make energy management simple with our 3 year energy reporting programme.