Energy intensive companies in Singapore are performing well in core aspects of energy management, but need to improve people-centric aspects, such as organizational structure, performance management and incentives, to fully realize and sustain the benefits of energy management, according to a survey by Accenture.
Accenture, with support from the National Environment Agency, surveyed 100 energy intensive companies in Singapore.
The Energy Conservation Act, which came into force April 22, 2013, requires Singapore companies to take steps toward managing their energy consumption and boosting energy efficiency.
The Accenture research shows that in comparison to their technological capabilities most organizations are relatively less mature in the people-centric aspects of energy management.
The survey also revealed that levels of energy management maturity vary between different industry sectors and within some industries, highlighting the diverse nature of opportunities across Singapore’s industrial companies. For example, biomedical manufacturing and petrochemicals have high maturity levels in energy management. On the other hand, transport engineering has lower maturity levels, which means that sector may have an opportunity to embrace energy management principles.
Singapore-based organizations with local operations only have a somewhat lower level of maturity in energy management, compared to business units of global multinationals and locally-headquartered multinationals, finds the research.
The Accenture researchers recommend that businesses plot trends, identify energy intensive processes and measure their performance against benchmarks. The report also suggests that the variance in energy management maturity could be addressed if policy makers and companies collaborate to establish a common platform to share best practices across and within industry sectors.
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