§ 9. Mr. Stevensasked the Secretary of State for Energy if he will estimate the latest figure of annual savings in energy costs which have been achieved by industry and commerce energy efficiency schemes.
§ Mr. David HuntAction taken by participants in energy efficiency schemes supported by my Department is currently leading to annual savings of £500 million, but much more is possible. Improved energy efficiency in industrial and commercial buildings alone could save £800 million a year.
§ Mr. StevensI thank my hon. Friend for that: encouraging reply. Does he agree that in view of the potential saving of £2 billion from the energy efficiency schemes they could play an important part in helping British industry to be competitive? Will he continue to highlight those schemes and the savings that come from them?
§ Mr. HuntYes. My hon. Friend is absolutely right to highlight the fact that we cannot afford for a moment longer to allow £2 billion to be wasted in industry and commerce. We are talking about bottom-line savings, because they can feed straight through to making products and services more competitive. They also release more money for investment and, as well as releasing more money for profits, they can produce greater job security for the future.