Optimal business energy management will result in huge energy-saving opportunities. There is a myriad of parameters that are included in a utility bill. Understanding these parameters will help you minimize wastage. Understand different business electricity rates via Utility Bidder. Here are the top 5 tips and tricks you shroud use to understand the energy consumption in your business.
Understand How Consumption Is Measured
An energy bill is composed of many things. To many people, it can be challenging to understand these components. However, it is still possible to understand your utility bills. Understanding your bill will help you identify areas you are wasting energy.
Energy is measured in kilowatts. Abbreviated as kW, a kilowatt is the amount of energy you have used since the last billing period. The higher the number, the more your bill will be.
Calculate Usage
After understanding your kWH, go ahead and calculate energy usage in your company. What’s your business’s energy consumption? Are there steps you can adopt to bring the usage down?
From here, sample down all the appliances you have at your office. For instance, if you have a microwave and other lighting fixtures, note them down. Check the wattage of each appliance. Figure out how you can reduce power consumption in your company.
Check The Bill
Check your bill. Scrutinizing your energy bill will help you save money. Then compare with your past bills. Is there any visible difference? If your current bill is higher, investigate what’s causing the fluctuations. Check to see if there are trends.
Pay close attention to fees charged by the provider. If there is an additional fee, note it down. Remember, the cost of electricity is on the rise. However, that doesn’t mean paying huge bills. Talk to your provider. You can also negotiate for a better contract.
If your provider is not willing to give you a better contract, switch to a new supplier. There are several suppliers out there. Conduct your research. Choose a supplier with better rates. Choose a supplier who is willing to help you save energy. You can also select a supplier who offers energy-efficient solutions.
Smart Meter
Leverage technology to save energy in your company. That’s why you should consider installing a smart meter. With a smart meter, you can easily track energy usage in your company. These figures can be used to analyze your consumption.
Energy audits rely on these figures. Getting accurate figures from smart meters will help you monitor, control, and analyze energy consumption. You can use an audit report to make better energy efficiency decisions.
Energy meters can benefit your business in many ways. One, they give you control over your electricity usage. Two, these meters allow you to respond to outages promptly. Three, they offer company owners improved privacy. You can also use them to make a detailed energy consumption analysis.
Identify Energy Hogs
Energy spikes can cost you a lot of money. Business managers should monitor energy consumption in offices to identify some of these energy hogs. For instance, a constantly running heating and cooling system can increase energy spikes in your office.
Check to see if there are outdated lighting bulbs in your office. Also, a rusty electrical system will waste a lot of energy. Choose energy-efficient appliances. Upgrade to LED lighting.
Conduct regular HVAC maintenance to ensure that your systems are functioning optimally. Turn off the lighting during the day. Leverage natural lighting. Ensure that your spaces are properly sealed.
Check the insulation in your spaces. Make sure that the insulation is sufficient. A properly insulated space requires less heating and cooling. As a result, your HVAC system will use less energy to make the interiors cool.
Moving
If you are moving to a new location, be sure to get in touch with your current supplier. Talk to your supplier about your intention. Give them proof that you are moving to a new location.
Hidden Fees
Check to see if there are any hidden fees. Remember, things like payment charges on fixed rates can increase your utility bills. Make sure that the quoted rate comprises all the charges. Hidden fees can surprise you. For more information, speak with your energy supplier.
Fluctuating Rates
Fixed rates don’t fluctuate. However, variable rates are prone to frequent fluctuations. A good number of plans are based on variable energy rates. Several factors can influence these rates. One of them is market forces. That’s why you should understand the rate in your contract.
Contract Terms
Read the contract carefully. Pay close attention to the wording. Don’t assume minor details. They can cost you in the long run. Go through the contract agreement before signing it.
If there are details you don’t understand, ask. Ensure that everything is clear. This will eliminate confusion and surprises in the future. Understand the charges. Familiarize yourself with the plans. Don’t forget about the other hidden fees.
Early Termination
Early termination comes with fees. As a customer, you should avoid these fees. Don’t switch to a new supplier if your contract isn’t over. Don’t switch to a new supplier 14 days before the expiry of your contract. Doing so can be costly. In particular, you will be exposed to termination fees.
Get a notification from your supplier. Act to it promptly. Plan ahead. Get a new supplier early and switch at the right time. Don’t make haste decisions. Get the contract dates right. Act to renewal notices quickly.
Choosing the Wrong Energy Supplier
The energy supplier you choose matters a lot. A good supplier will give you several cost-saving opportunities. That’s why you should always strive to choose the right supplier. Choose a supplier who is willing to give you several options. Select a supplier with proven track record. Compare rates from different suppliers before making your decision.
The Bottom-Line
Energy consumption is an important aspect of running any business. A company that pays close attention to energy consumption stands a better chance of saving on utility bills. There are several ways of saving energy. However, you should understand energy consumption first. Use the above tips and tricks to understand energy consumption in your company.
Also Read: US Utilities’ Green Energy Investments Experiences a Hike as the Interest Rates Drop
