SECR is a new reporting strategy for large businesses. Here at Voltacompliance, we understand that there is often confusion surrounding this new legislation. It’s time to de-mystify SECR and realise its potential to lower your energy bills and reduce your carbon emissions. Read on to discover everything you need to know and how to act on these new regulations.
SECR stands for Streamlined Energy and Carbon Reporting and has been put in place by the UK government to replace the Carbon Reduction Commitment, also known as CRC. It was recommended by the The Department of Business, Energy and Industrial Strategy (BEIS).
SECR became compulsory for certain organisations in April 2019 and applies to many large companies in the UK.
It requires companies and organisations that meet SECR requirements to provide a full evaluation of their energy efficiency in the annual director’s report for the financial year. The report must contain information on:
SECR aims to:
SECR applies to large UK companies – it’s not just quoted companies who now have an obligation to conduct a report.
So, does your business qualify for SECR?
If your UK company is quoted, large and unquoted or an LLP, it must also meet at least 2 of the following criteria:
Exemption applies to companies using less than 40,000 kwh of energy in the reporting year.
With over 11,000 companies affected by the change, it is no wonder there is a sense of confusion amongst many business owners.
If your business or organisation is eligible, it is important that you begin your assessment as soon as possible as it can take months to collect and accurately assess the relevant data for SECR.
You then submit your report when filing your end of year accounts. For many businesses, this will be April 2020.
Failure to comply with the new SECR regulations can result in missed opportunities to reduce your running costs and carbon footprint.
If you are unsure on how to fulfil your legal obligations, contact us using the form below.
We are different.
With climate change a global concern, we don’t just carry out reporting.
Companies will be held accountable for their energy consumption. That’s why our in-house team will also help you to implement energy saving recommendations to save you money and reduce your carbon emissions.
Our fully managed solutions include:
We report on your individual energy consumption and identify areas to improve your carbon footprint, save money and reduce your tax bill.
Tax on energy continues to rise as consumption reaches new highs across the UK. Volta Compliance predict energy tax to increase once more during the next financial year.
Each business we assess is different, which is why we offer bespoke energy solutions for your company or organisation.
We are a tight-knit team of like-minded individuals with over 50 years of combined experience in electrical compliance. We are proud to offer bespoke solutions to reduce your carbon emissions and save you money.
The foundation of our success is built upon the care we put into our customer relationships.
Don’t be caught out.
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