There are simple ways to reduce your setting’s power bills, says Stephen Gaubert…
The cost of energy for all businesses is rising continuously. Irrespective of the prices in the wholesale energy markets, energy costs will continue to increase over the next decade to finance upgrades to the UK’s energy infrastructure and the push towards renewables. However, for early years settings, energy is one of those overheads where costs can be managed and reduced.
There are two aspects in managing your energy costs:
Let’s start with energy supplies. Unlike the domestic market, business energy is subject to contracts, which will normally be on a one, two or three-year basis. The first step is to make sure that you diarise when the contract ends. It’s essential to know your termination window and give notice in time. The renewal process is a complex one and differs between each energy supplier. When you receive a renewal offer from your supplier, seek to get a better price. All the main energy suppliers have websites where it’s easy to get a quote. Some degree of negotiation is usually possible.
Check that the meter number on the bill matches your meter details. Make sure that you’re paying for the correct supply. Send meter readings when asked, to avoid estimated bills. Finally, over the next few years, your meter will be converted to a smart meter. This will avoid estimated readings, as the meter will automatically send the details to the supplier. It will also give you the ability to take frequent readings, so that you can understand how your energy is used.
Implementing energy efficiency measures is one way you can actually reduce your usage, and therefore your costs. In a recent survey, one of the major suppliers reported that nearly 80 per cent of the UK’s 4.8-million small businesses are potentially missing out on saving money. Every year, possible savings of up to £2,000 each are lost by not implementing energy efficiency measures.
There are three key ways to reduce energy costs and become energy efficient: