Big savings through Energy Efficiency Opportunities program

An independent review has found the Australian Government’s Energy Efficiency Opportunities (EEO) program is saving participants millions of dollars in energy costs each year.

The review also recommends streamlining the reporting process to address industry concerns around compliance costs, which the government will start implementing immediately.

These changes follow an external review conducted by ACIL Tasman, which found the EEO program has ongoing value under a carbon price as it addresses information failures around energy usage.

The Minister for Resources and Energy, Gary Gray, has welcomed the findings of the independent review.

“This evaluation highlights the substantial cost benefits the EEO program is delivering by improving the Australian industrial sector’s energy efficiency,” Gray said.

“By helping companies to implement better energy management, the EEO program reduces energy costs - amounting to over $290 million each year - as well as greenhouse gas emissions.

“I welcome the recommendations that will help to deliver on the Council of Australian Governments’ commitment to streamline reporting and reduce the compliance burden on companies.

“A series of regulatory changes are currently being prepared by my department, including working with the Clean Energy Regulator to develop a single portal for industry to report on energy use and emissions data by October 2014.”

Gray said that recent announcements by the NSW, Victorian and Queensland governments to end their mandatory industrial energy-efficiency assessment programs will also help reduce duplication costs.

The implementation of recommendations will be discussed at industry feedback sessions held by the Department of Resources, Energy and Tourism in major capital cities during May 2013.

For more information on industry feedback sessions, proposed regulation changes or to download the Full Cycle Evaluation of the EEO Program and supplementary analysis, go to http://eeo.govspace.gov.au/.