Tips on How to Save Money on Business Energy Bills
If you run a business, you would know that electricity and gas bills are one of the biggest expenses a business faces. According to statistics, there was an increase in the concerns about energy costs among small to medium business owners from 47% to 68% in three years.
If you run a business, you need to know how to monitor your business’s energy consumption to protect your business and the environment. Here are some tips on how to save money on your monthly energy bills.
1. Do not renew your contract with the same tariff
In normal cases, when your gas or electricity contract ends, you will be shifted to a more expensive tariff. This is known as the ‘rollover rate’.
If this happens, it’s important that you take immediate action or else your business will suffer.
The best method is to start off by doing your research and searching the market when you are six months away from your agreement ending.
Your current supplier will remind you of the renewable date; just be sure not to ignore it. When your supplier reaches out to you, speak to them about the best deals they have to offer and write them down.
You can use a Business Energy Comparison website or service to compare different electricity and gas tariffs.
Business gas and electricity have to be bought separately. You should also consider whether it is cheaper to buy from the same supplier or not. You should pay special attention to:
· Type of tariff-whether it is fixed or variable
· Do their rates differ at different times of the day or week
· The length of the contract
· Is there any exit fee if you wish to leave early
· Do they offer green energy
· Will you get a discount for paying with a debit card
It isn’t ideal for changing your tariff before the contract term ends as you have to pay exit penalties which affect future savings.
2. Keep efficient business equipment
Give a look at every piece of equipment in your business building, such as kitchen appliances, IT equipment and other items such as vending machines.
Get to know how old their model is and their efficiency rating. By increasing the efficiency of the equipment you use, you can lower the costs in the long run. You can do so by
· Upgrade to a newer, more efficient model
· Send all the equipment for maintenance regularly
· Clean the equipment regularly
· Turn off all equipment when not in use
Make sure that equipment such as photocopiers, printers and microwaves are plugged out when not in use. Equipment that is left on standby or in dormant mode still consumes energy.
It is very important that all lights and fans are switched off when not in use. According to statistics, this small act or change can bring down your monthly bills by 30%.
3. Involve your company employees
You need to take your people on board. Educate your employees on energy-saving measures, energy-saving plans and their importance. You can put up posters and stickers to remind your staff of the small changes they have to make.
4. Focus on the lighting
Lightning alone uses about 20% of the electricity in the country. This is why it is important that you install energy-saving bulbs. According to statistics, you can save up to 80% by upgrading from traditional lightening to LED bulbs.
Installing smart bulbs can help you cut down your monthly bills by half. Smart bulbs are connected to your smartphone and allow you to turn them on and off from anywhere at any time.
Do not turn on lights during the day, and try to reap the benefits of sunlight as much as you can. Position the working tables such that sunlight falls directly on them. This way, you can save energy during the day and only turn on lights at night.
5. Install smart thermostats
Keeping your thermostat under check can significantly lower your energy costs. By installing smart thermostats, you can adjust the temperatures from your smartphone.
You can also set schedules for when the thermostat should turn off. You can set its daily activity in order to minimize usage. Make your staff aware of the heating settings and encourage them not to change them.
Make sure you are not heating rooms that are not in use. Make sure the radiators are positioned in such a way that there is nothing blocking the heat coming from them.
6. Do not let energy get wasted through doors
If you feel that you are increasing the cooling and heating to maintain a pleasant temperature, but it’s still not effective, then you need to make sure the heat is not escaping through the doors or windows.
If you feel that your building is not getting heated properly even when you have turned the temperatures up, then most likely, heat is escaping through the door and window gaps.
In order to prevent this wastage of energy, you need to insulate your premises. Walk around the building to find out areas from where heat is escaping.
Once you have highlighted the grey areas, get them insulated. If your windows are not double glazed, you can replace your windows or put in new glazing sheets in the existing frame.
8. Install a smart meter
When you switch energy suppliers, you are given a smart meter to be installed if you already don’t have one. According to the law passed by the government, all businesses must install a smart meter by the end of 2024.
A smart meter helps you track your energy consumption. It tells you where most of the energy is being consumed so that you can make changes to bring down the usage. Smart meters allow more accurate billing. Smart meters are safe devices that do not track your personal information and activities.
In a nutshell
By following the above-mentioned tips, you can easily bring down your business energy usage and cut down your monthly bills by half. Energy costs are skyrocketing, and you need to take action now to prevent straining your wallet. A smart meter may help you be more efficient with gas and electricity as they can help you.