The Government has declared plans to introduce new regulations called Streamlined Energy and Carbon Reporting (SECR). Its goal is to enable businesses and industry to improve energy efficiency by at least 20% by 2030.
SECR reporting will apply to all cited companies and will now additionally apply to large companies that meet the accompanying criteria:
- Have at least 250 employees, or an annual turnover greater than £36m
- PLUS a balance sheet total greater than £18m.
Qualifying companies will be required to report their UK energy use including including electricity, gas and transport energy. Companies will be also required to provide a narrative on energy efficiency actions taken in the previous financial year.
As a result, qualifying companies will have to ensure they have an energy efficiency action plan in place.
The new Streamlined Energy and Carbon Reporting (SECR) framework will replace a scrapped CRC Energy Efficiency Scheme.
The enactment is expected to be in place from April 2019.