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Sunday December 21st 2014

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Saving Energy: bringing down Europe’s energy prices

A Report from ECOFYS

Apart from the environmental benefits -notably, reducing greenhouse gas emissions- energy savings have significant economic benefits for European economies: (1) they reduce the amount of money businesses and consumers need to spend on energy, (2) they have positive effects on employment and (3) they decrease dependency on fossil fuel imports.But the actual scale of the benefits is often underestimated.

This report shows that energy savings do not only bring direct cost savings; they also indirectly reduce energy prices. Real cost savings resulting from meeting the 20% savings target are likely to be considerably higher than figures commonly cited. In other words, consumers would use fewer units of energy, and the price of the units they do use would be lower than they would otherwise be.

 

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