Banks launch energy audit service

The programme, run by the banks in partnership with Mentor, RBS Group's business consultancy service, has been rolled out across the UK following a pilot in the north of England. Over 60 businesses with an annual energy spend of between £10,000 and £200,000 a year took part in the pilot, achieving an average projected potential saving of £23,000. This includes annual savings on payments as well as potential refunds from overpaid energy bills. Mark Eastwood, head of manufacturing for commercial banking at NatWest and RBS (pictured), said: "Manufacturing businesses could be missing out on renewable energy opportunities simply because they do not know they exist. "The audits look at the behaviours of businesses from helping them tackle the small things like encouraging staff to switch off lights and appliances, as well as implementing energy saving initiatives such as better insulation and equipment to regulate energy flow into buildings." A survey carried out by the bank at the end of 2013 showed that, although 85% of businesses agree that the rise of energy costs is a concern, less than a quarter carry out regular reviews of their energy (every seven-12 months). The research also showed that 96% of respondents were on the standard energy tariff with only 11% generating their own energy through renewable technology. According to the survey, 54% of manufacturing businesses had not considered renewable energy and many cited time as the biggest barrier.