New Scheme To Save Asda GBP2 Million In Energy Costs

Tue, 29 Jan 2008
 
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Asda has revealed plans to save £2 million a year in energy costs by sourcing all its energy for stores and depots directly from UK power generators .

By cutting out third parties, Asda believes it will be able to access cheaper energy, including renewable energy .

The energy will be sourced direct from British power generators for the retailer’s stores and depots by the recently-formed energy company Power4All.

Asda is expected to place its first order next month, initially supplying electricity to its stores in Scotland .

The grocer will initially purchase at least 5 per cent of its energy from green sources, but insists its long-term aim is to be 100 per cent supplied by renewable energy, meeting power targets revealed by parent company Wal-Mart.

Andy Bond, the group’s chief executive, commented: "In a volatile energy market fixed term contracts are no longer desirable for a business like ours."

"By sourcing energy direct not only will we make significant cost savings, we will also be able to access green energy at much lower prices, helping us move towards our 100 per cent renewable target more quickly."

Asda also confirmed it has no intention of entering the retail energy market at this stage as Power4All is currently only licensed to sell non-domestic energy for use in Asda's stores and depots.

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