Seven steps to avoid painful energy price increases

With the harsh winter months approaching and energy prices continuing to rise, the question asked by most organisations is “How can we reduce the cost of our energy bills?”

We have therefore put together a brief list of top tips to help your business avoid any severe price hikes:

1. Take it seriously

Hoping things will get better, delaying decisions and trying to grab a cheap tariff from a broker is a long walk off a short pier! Make sure you have a long-term strategy and understand the markets involved.

2. Visibility

Understand where and when energy is used in your operation; either invest in a survey by a chartered energy manager to identify exactly where your money is going or have a clear set of meter readings or consumption data.

3. Easy wins

Replacing old fittings and infrastructure, as well as training staff on energy efficient usage are the two quickest wins. If possible, don’t do it in dribs and drabs as you are only putting off the eventual savings you could make.

4. Work to a plan

Know where you want to get to and engage with everyone involved – this always gets results.

5. Be flexible

Learning to use grid energy flexibly can help you avoid the penalty costs designed to reduce peak time loads.

6. Invest in your own

Where you have significant heat and power requirements, combined heat and power (CHP) can work well; solar panels on your roof and batteries to store the excess provide great results.

7. Think ahead and take advice

Don’t wait for your supplier renewal date to determine your future costs. Think, and plan, ahead by engaging with a reputable, professional advisor that you trust and asking them to plot out your options.

By taking a close look at your business’ existing energy usage, seeking advice on the opportunities available to you and formulating a long-term strategy, these few simple steps can make a world of difference to the amount your business pays for its energy well into the future.