By complying with new energy efficiency standards, the economy could see a total of £900 million being saved, it has been claimed.
The Department for Energy, Food and Rural Affairs (Defra) made the assertion while announcing that a consultation is taking place that will see the introduction of new standards and energy efficiency labelling being introduced on high street products.
It claims that the European Union could reduce its energy use by ten per cent by following the proposed standards.
However, failure to comply with the regulations could see £30 million being lost each year.
Dan Norris, the new minister for the environment, stated: "These standards can save our economy so much money and can save millions of tonnes of CO2 from going into the atmosphere."
Energy saving labels are already in use on some
electric and gas products available on the high street.
The Energy Saving Trust states that such devices are likely to be better at energy efficiency than similar items which do not display the label.
