Over the past year, business energy prices have reached some of the lowest they have been for a while now as demand dropped off. However, as businesses start to return to offices, warehouses and more, the demand will drive the price back higher. We’ve possibly already seen the best price for energy that we will for some time if you look at the trend towards the back end of 2020.
If your energy contract is up then you might be able to secure yourself a favourable price for your deal but the price is rising sharply, so this leads to the debate of trying to find a cheaper supplier vs simply reducing your consumption via several means.
When thinking about choosing an energy supplier it’s important to remember that not all deals are the same and business contracts will usually keep you locked in for that set time frame as opposed to being able to switch relatively freely with your home energy suppliers.
So is there a benefit to switching at all?
Yes. If you don’t switch you can get left on expensive contracts and be paying far more than your competitors do.
Can I really save much from reducing my consumption?
You might be surprised just how much you can lower your consumption and the impact that has on the bottom line. There are a few investments that have impressive payback periods such as switching to LED lighting or installing an energy management system. According to the Carbon Trust, switching to LED lighting can save you up to 70% on energy consumption and when added up across a large property that is a huge saving.
An energy management system such as the Pilot Group EMS also averages a saving of 40% (in some cases far exceeding 50%) on gas consumption with a payback period of around 2 years. The savings made can be seen almost immediately with the smart sensors and scheduling functionality that allow you to limit wastage and human errors. This is without even taking into account the time saved by individuals involved in any kind of energy management with the added features of an EMS.
Where should I focus my time?
If you have the time and are nearing the end of your energy contract then the answer is both, however, what you should remember is only your consumption levels are in your control daily. Understanding your usage, comparing that data between zones and even different properties should allow you to delve into where you are wasting energy. Savings from an energy management system aren’t just a one-off and with the data provided in a user-friendly manner, you can constantly be implementing energy strategies to make data-driven decisions to meet energy targets.
For more information on what an energy management system could do for you, get in touch with our team today to have a chat on 0161 5076862.