WAYS TO REDUCE ENERGY COSTS FOR YOUR BUSINESS
There are many avenues you can take to save on your electricity bill. The best way is to become more energy efficient. Energy efficiency is also good for the planet and is relatively low cost to pursue. Higher cost changes such as software for energy brokers also pay for themselves through lower bills for years to come. According to the Federation of Small Businesses, 96% of small firms are concerned about their energy bills, while 63% said their energy costs increased in 2022, compared to 2021.
If you’re running a business, you’ll be keen to find out more about how monitoring costs and reviewing your firm’s energy efficiency can be beneficial for both financial and environmental reasons.
From choosing the best gas and electricity tariffs for your company, to simple changes that can result in significant savings, here we offer our top tips on how to save money on business energy. Here are few things you can do to help you lower your energy bill:
- Pay Attention To Your Equipment
All equipment such as computers, printers, lighting, and other energy-depleting devices should be Energy Star rated which means they have been deemed energy efficient. All eligible equipment should be set to sleep mode at the end of business hours or plugged into power strips and turned off completely with the switch of a button. Installing smart thermostats, which can be controlled through an app on your phone, and LED lighting will substantially reduce costs. In areas less frequently used such as bathrooms, kitchens, and conference rooms consider installing motion sensors that provide light only when in use. In an attempt to eliminate energy monopolies, many states have deregulated their energy markets. If your business is located in a state where energy deregulation exists you have the opportunity to shop for an energy broker software provider who may be offering electric rates that are lower than your local utility. The process to switch suppliers is simple and the savings have the potential to be impressive.
- Hire An Energy Broker In 2024 To Watch The Market
Lately, energy markets have been extremely volatile, and finding a favorable rate for your business has been challenging. Energy brokers understand the driving forces behind energy prices, what makes them go up, and what makes them go down. As a commercial customer, you have the opportunity to lock in a future energy price when market conditions are favorable. An energy broker can watch the energy futures market on your behalf and notify you when prices are trending downward on the energy broker platform.
- Measure Your Usage
Measuring your kWh and kW usage is a good step towards creating an energy strategy that reduces expenses. After all, you cannot reduce energy consumption without having an idea of your baseline usage.
- Negotiate With Your Supplier
Customers located in deregulated energy states might be able to negotiate with energy suppliers when market prices drop. There are various energy contract tools available such as blend and extend contracts to allow you to reduce your energy costs.Additionally, utilizing energy brokerage software can further enhance your ability to manage and optimize your energy contracts.
- Switch Energy Suppliers
We already spoke about finding energy suppliers with lower rates; however, finding a reputable supplier is also an important factor. Contacting unscrupulous energy suppliers can lead to energy pass through charges and energy fraud.
- Renew Your Supply Contract At A Lower Rate
Nothing is better than paying less for energy in the future. With prices on the rise around us due to inflation, renewing your energy contract at a low rate is a win. Hiring an energy broker or consultant at Enerclix energy broker software to watch the energy futures market on your behalf is a great way to accomplish
- Calculate Your Business Energy Consumption
It’s important to be able to properly calculate your energy usage to determine if there is anything out of the ordinary. Outliers in usage charts can help you determine inefficiencies in your building.
- Avoid Energy Scams
Energy scams and fraud can cost your business thousands of dollars. It’s important to be aware of the common scams such as slamming, unauthorized charges, and egregious variable rates.
- Be On The Lookout For Hidden Charges
Hidden energy charges in your utility bills can be common. Inspect your invoices each month for anything that does not match the terms of your retail energy contract, or utility tariff.
CONCLUSION
When you try to lower your electric bill, anything you do to curb your energy usage can add up to significant savings. Even small changes that you might not even notice can save your company money. Gas and electricity bills are among the biggest expenses businesses face. Energy efficiency saves you money on bills each month because you are using fewer resources.
