Energy management tips that can help reduce your business costs
Your energy bill can soar, especially if you have a business. Costs are even higher if your business is huge and engages in energy intensive activities; however, there’s a way to reduce your utility bills through effective energy management. Simple changes in your workplace can bring great improvements. Here are some of the energy management tips that can establish efficiency, in order to reduce your expenses and make your business more sustainable.
Tips for successful energy management in the workplace
Review your energy contract
Have you taken the time to review your energy contract? If not, it’s time to review it to know if you are getting the best value. Energy costs form a large part of your business’s finances. If there are terms and conditions in the agreement that do not work according to your needs and requirements, consider negotiating for a better deal.
There are different types of energy contracts to match the size and location of a business
1. Standard retail contract – This is a basic contract, that generally involves little to no benefits. If you are currently on a standard retail contract, you would almost certainly save money by shopping around.
2. Market retail contract – This type of contract is agreed upon between the consumer and an energy retailer. It is often a generally available offer; however, you can sometimes obtain a below-the-line offer by speaking to them over the phone, rather than online.
3. Market contract (negotiated) – Suited for large energy consumers who have an extremely large energy usage. With this type of contract, prices are usually based on bespoke pricing; however, you are often tied into a specific amount of usage across the contract term.
Compare energy providers
You have to compare energy providers to know if your energy plan is right for you. By comparing, you can assess energy tariffs and be aware of deals that can give you the best value for your money. It is also an opportunity to find providers with better customer service.
Electricity Wizard offers a FREE and easy-to-use energy comparison tool to help you in finding the right energy provider for your business.
Understand your energy consumption
Know the specific reasons why your energy consumption is high. Identify the areas that utilise the most energy in the workplace and assign people who will monitor user activity. This will help you assess if energy is consumed properly and not wasted. It will also help you develop plans to manage energy use and reduce your bills without affecting your operations.
Find opportunities for savings
Even simple modifications to how energy is used in the workplace can help reduce your energy bills. You may consider upgrading to energy-efficient equipment. It may come with a higher upfront cost, but its long-term benefits and savings would be worth it. You should also identify machines that consume phantom power and implement steps to prevent unnecessary use of energy.
Monitor your progress
Taking the necessary steps to manage energy use in the workplace would be pointless if you don’t track your progress. You have to monitor if your strategies or effective or not. A reduction in energy costs should be reflected in your energy bill. If not, you should evaluate your actions to find out why your efforts are failing. You should also have a backup plan that will support your initiatives and eventually achieve your goal of corporate sustainability and reduced energy costs.
Proper energy management brings positive gains when done the right way. Monitor, control, and conserve energy usage to establish sustainability in the workplace and reduce your energy consumption – which should ultimately translate into lower energy bills.
If you want to compare energy providers in Australia and find the best energy plans that suit your business requirements, check out Electricity Wizard. Use our straightforward energy comparison tool to get results in an instant.