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Save $17B a Yr by Cutting Power Demand

The U.K. could wipe 10.9 billion pounds ($17 billion) off its annual energy bill by 2030 with the introduction of incentives designed to cut electricity demand during the switch to a low-carbon market, a study showed today.

The savings in the form of so-called negawatts, a theoretical unit of power representing energy saved, would reduce the need to build more wind farms, nuclear plants and fossil-fuel power stations, according to environmental policy group Green Alliance and WWF.

The measures should be introduced into a bill the government plans before the end of the year to overhaul the U.K. energy market, so that the “huge potential” for cutting power demand by as much as 40 percent is realized, the groups said.

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