uk packaging industry

The UK Packaging Industry is Set to Face Hurdles Due to Compulsory Energy Audits

There has been an upsurge for packaging products driven by growing investment in the housing and construction domain.

A steady rise in the number of retail chains has also added to the demand for packaging of products.

Experts predict that the UK packaging industry will grow at a yearly rate of 4% till 2018. As the industry experiences such a steep growth, the pressure on it to become eco- friendly is also on the rise.

With energy prices being predicted to rise high and new rules forcing bigger organizations to conduct compulsory energy audits, it has become imperative for packaging companies to become smarter with respect to their energy consumption. However, many fear that it might take a toll on the company finances.

In the UK, a new rule named Energy Savings Opportunity Scheme (ESOS) has been introduced, which is typically a savings identification and energy assessment method for larger companies in the packaging industry.

Why Bigger Organisations in the UK Packaging Industry Need to Conduct Energy Audits?

Packaging companies with more than 250 employees or a turnover of £38.9m every year and a balance sheet showing over £33.5m have to comply with the new rules. The biggest challenge for these companies at this juncture is that they have just six months in hand to get ready for the upcoming audits.

If these organizations do not adhere to the audit guidelines by December 5 this year, they will have to face hefty financial penalties that could run into tens of thousands of pounds.

The worldwide packaging industry is a market that’s experiencing a continuous and rapid growth.

If the packaging companies comply with the ESOS audit diligently, the industry will soon be the leading sector as far as energy consumption is concerned.

The energy savings scheme could also trigger long-term business growth for companies in the UK packaging industry as they will be able to make considerable savings in their business by managing energy consumption effectively.

Some findings show that an average firm required to comply with ESOS could save 13% of its energy costs, provided it minimises energy consumption based on the audit findings. Thus, companies in the UK packaging industry can enjoy the benefits of ESOS only if they don’t take the rule as a mere tick box exercise.

To read more about ESOS and the Packaging UK Indusrty, visit “>site.

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