energy

Ovo pledges to eliminate customer CO2 emissions

[ad_1]

Ovo, the energy supplier that is set to become the UK’s second largest, has pledged to achieve net zero carbon emissions in its operations and eliminate all of its customers’ household emissions by 2030.

The Bristol-based company, which will be second only to British Gas for market share after it completes its acquisition of the household supply business of SSE, has also promised to halve the 3.3m tonnes of carbon dioxide emissions produced a year in its entire supply chain for providing gas and electricity to its 1.5m customers.

The targets do not include CO2 emissions from SSE’s 3.5m customers but they will be included once the deal is concluded, which is expected later this year or early in 2020.

Stephen Fitzpatrick, the former City trader who founded the company a decade ago, said Ovo would provide customers “with tools and services they need to help them eliminate the carbon emissions from their homes” such as a carbon emission tracking tool and electric vehicle charging infrastructure. It will also help customers switch away from natural gas boilers, Mr Fitzpatrick said.

Ovo’s commitment is one of the biggest to date by a UK energy supplier as it covers emissions not just from electric power but also gas, which is used to heat the majority of homes.

Ovo said that it would make itself “accountable to science-based targets aligned to a 1.5C increase in global temperature with remuneration linked to carbon targets” although it did not provide a detailed breakdown of the targets.

A number of UK utilities, such as Eon, Shell Energy and Bulb say they supply 100 per cent renewable electricity. In many cases, this is achieved by purchasing renewable energy supply certificates from regulator Ofgem, rather than by producing electricity from renewable sources.

Mike Berners-Lee, a carbon emissions expert, praised the move by Ovo and said it would “play a part in creating the conditions” for the industry-wide changes needed to reduce emissions.

Mr Fitzpatrick said on Wednesday that “instead of more customers, more growth and more profit, the next ten years will be about less carbon”.

The company plans to produce an annual report on progress towards the targets and there will also be a link to employee bonuses.

[ad_2]

READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more