Audit Your Energy Bill to Increase Savings

Audit Your Energy Bill to Increase SavingsMost businesses receive a monthly energy bill and pay it without thinking. After all, energy is the cost of doing business. However, it’s possible that your energy company is not offering you their best rates. Or, perhaps production could be moved to take advantage of peak and off-peak price differences. There are often ways of saving money concealed within the numbers on your monthly bill. Uncovering them requires examining the bill carefully, taking action and making the necessary changes.

Audit your Bill at Least Quarterly

As a business, you are a big customer, and big customers have leverage. Often, power companies have multiple pricing tiers for their customers, but they’ll rarely inform you that you qualify for a lower price. Hiring an energy consultant may enable you to enjoy lower pricing and save you money. Most consultants charge a small fee for conducting an audit of your current pricing, though this is a worthwhile investment if your fee structure drops.

Review and Align Operation Schedules

If your business is involved in manufacturing you probably consume a lot of power. Reviewing your power contract may uncover periods during which your production schedule is missing an opportunity for cheaper power. Scrutinize your service agreement and meet with production managers to explore a way to exploit inexpensive energy. You’re sure to discover many money saving changes that you can implement.

Administration Schedules Can Be Optimized as Well

Even an administrative staff schedule can be manipulated to reduce power costs. If your business does not need administrative coverage Monday through Friday, consider moving to a four-day workweek. This seems like a small change but running power for climate control, lighting, and technology one less day each week is 52 extra low power days each year. That’s a saving of almost 15% and your workforce retention will increase, because who doesn’t love a three-day weekend?

There are many ways you can make your business run more efficiently. Something as easy as rearranging your schedule can save you thousands every year.