Deutsche Bank, SocGen push for profit from cutting energy use

London

FOR energy investors, saving energy has never been as profitable as producing it. That's starting to change, with institutions from Deutsche Bank AG to Societe Generale SA (SocGen) making it bankable to squeeze more out of electricity and fossil fuels.

Their efforts have the potential to channel more money into energy-saving beyond the US$45 billion reaped in 2014, blunting demand for fossil fuels and the global-warming pollution they create, according to data compiled by Bloomberg. It's already starting to add a profitable line of lending, supported by state-backed groups such as the European Investment Bank and KfW of Germany. By 2030, efficiency may reduce the bills of energy consumers by US$86 billion, eliminating the need for hundreds of power plants around the world, according to the International Energy Agency (IEA).