The UK's approach to energy efficiency is "completely bonkers" according to the chief executive of one British technology firm.

Drew Nelson of semiconductor manufacturer IQE told the Financial Times that the UK government was "pouring money down the drain" in its refusal to address energy efficiency. The comments come after the government's draft Energy Bill was revealed, which critics have argued offers very little incentive for homeowners and businesses alike to take steps to cut energy consumption.

"The country's lack of energy efficiency, to me it is completely bonkers," Nelson told the Financial Times. "It has a massive impact on the UK's national power strategy."

And the IQE chief criticised government moves to pour £110 billion worth of investment into cleaner, greener forms of energy generation, pointing out that 7,600 gigawatts (GW) of energy was wasted each year in converting electricity from mains supply to electronic devices.

"Instead of worrying about costly forms of energy generation, we should be focussing on energy efficiency," he continued. "We're pouring money down the drain here." 

The government's draft Energy Bill, revealed this week, has also raised a number of concerns among industry analysts.

Chief among them is the worry that the subsidising of green energy generators such as nuclear power stations will be passed on to the customers, forcing many to pay out even more in fuel bills despite spiralling costs predicted to put 8.5 million homes in fuel poverty within four years - causing more householders to look into green solutions such as LED light bulbs as a means to light their home for less. 

Greenpeace director John Sauven said of the bill: "It's a shambles. The most important question is: 'What is the objective of this bill?'

"If your objective is to have a low- or zero-emission electricity sectory, you need to have a strategy and that needs to be clearly stated," he told BBC News. "But the government isn't clear about it.

"The longer this disarray in policy lasts, the more likely it is that we get another dash for gas which will break all our CO2 targets."