Energy Savings Opportunity Scheme (ESOS) Phase 3
Start identifying your energy-saving opportunities today
Energy Savings Opportunity Scheme (ESOS) was introduced to help UK-based big companies save energy and meet legal standards.
ESOS requires thorough audits of building, process, and transport energy use every four years. We are currently in the Phase 3 of ESOS.
Understanding ESOS Phase 3
Energy Savings Opportunity Scheme (ESOS) Phase 3 requires large UK businesses to conduct thorough energy use assessments, identifying where they can reduce consumption and save energy.
It is applicable to organisations with over 250 employees or financial thresholds of £44 million in turnover and £38 million in balance sheet total.
Non-compliance can lead to significant fines and public censure.
EIC is a top expert in this field, guiding businesses through qualification and compliance, with audits covering 95% of energy use and overseen by qualified ESOS Lead Assessors.
ESOS Phase 3 Qualification Date
The qualification date for ESOS Phase 3 was 31 December 2022. This marks the specific timeline when businesses need to assess their eligibility for compliance.
Meeting the compliance timeline is essential to avoid penalties and to take advantage of energy efficiency benefits.
Accurate eligibility determination by the qualification date allows businesses to plan and implement necessary measures, ensuring they meet the ESOS Phase 3 requirements laid out by the Environment Agency.
ESOS Phase 3 Changes
ESOS Phase 3 brings new rules and ways to report on energy savings, which businesses must follow to stay in line with the law.
These updates mean qualifying businesses have to check and possibly change how they do their energy audits and reports.
It’s key for businesses to keep up with these ESOS Phase 3 changes, learn what’s new in the updated requirements and make sure they meet the reporting criteria.
Getting this right helps businesses avoid fines and make the most of the energy-saving opportunities that ESOS offers.
ESOS Phase 3 Compliance and Requirements
The compliance process for ESOS Phase 3 involves specific steps that eligible businesses must follow to meet the scheme’s requirements.
First, businesses must determine if they qualify, which typically means having more than 250 employees or meeting the financial thresholds.
Once eligibility is confirmed, companies need to:
- Add up all the energy they use in buildings, vehicles, and factories.
- Focus on the parts where they use the most energy.
- Get an expert to check these areas and suggest ways to use less energy.
- Tell the government about their energy use and savings plans by the deadline.
Why choose EIC for Fixed Energy Procurement:
EIC is the top energy consulting firm that serves businesses in the UK. What makes us stand out from other energy consultancies is our unmatched dedication to tailoring our services to match your unique requirements.
Here’s what sets us apart:
We’ve been the market
leader for almost 50
years
We manage more than
700 client accounts
nationwide
We handle approximately
£1.3 billion in energy
contracts each year
We process and verify over 3.5 million invoices annually
We operate one of the UK’s most successful DPS frameworks
Our network includes over 200 employees
Our industry expertise and dedicated procurement team have enabled us to be a part of many client success stories throughout the years:
Businesses that meet the size of over 250 employees or financial criteria of £38 million in balance sheet total must comply with ESOS Phase 3.
Unsure about your ESOS compliance status? Book a free, no-obligation consultation now to avoid penalties and maximise energy savings.
ESOS Phase 3 introduces updated reporting requirements and energy savings identification methods that qualifying businesses must adhere to.
Stay ahead of ESOS Phase 3 changes and ensure compliance by booking your free, no-obligation consultation today.
The revised ESOS Phase 3 report submission is 5 June 2024.
Need help navigating the ESOS Phase 3 compliance process? Schedule a free, no-obligation consultation to get started on identifying your energy-saving opportunities.
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- Our dedicated energy buying team constantly keeps an eye on the markets, aiming to secure the best price at the ideal time and duration
- We thoroughly analyse your business’s energy consumption data to ensure that we deliver a tailored energy to precisely match your unique needs
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