How Your Company Can Beat Extremely High Energy Prices - NationalWorld

How Your Company Can Beat Extremely High Energy Prices – NationalWorld

Try these simple steps to help businesses across the UK mitigate spiraling energy costs
Try these simple steps to help businesses across the UK mitigate spiraling energy costs

Unlike homes, businesses are not protected by a consumer price ceiling and are affected by the full impact of exorbitant wholesale energy costs.

We look at why wholesale energy costs increase and tips on how your business can combat rising prices.

Why is the cost of wholesale energy so high?

Wholesale energy prices remain at record levels due to the following key factors:

Decreased generation from renewable energy sources due to lack of atmospheric winds

The conflict in Ukraine has reduced natural gas supplies to Europe

The UK’s dependence on imports as natural gas storage levels dwindle.

How to combat rising wholesale energy costs

Here’s how your business can combat rising wholesale energy costs.

Compare business energy prices and prices

The commercial energy market is highly competitive as suppliers compete for new customers. Market comparison allows you to secure the best deal for your business. If you have 12 months or less in your energy contract, you can compare and secure competitive pricing for the future.

Using eco mode on various devices and machines throughout the office can help reduce power consumption to a great extent. In eco mode, the devices may run a little slower, but they will save quite a bit of power.

A dishwasher is a prime example of this in an office environment, it is something that is used several times a day, and the eco mode will reduce energy consumption by 30 percent.

Install smart timers to significantly reduce your energy use. Smart timers allow you to set a time limit for the device. No use having a printer waiting at the ready in an empty office in the middle of the night.

These small adjustments will have a large cumulative effect in reducing the total cost of your energy bill for your business. Many companies are going one step further by not using paper.

By changing the lighting to LED lights, you can save between 20 to 30 percent compared to conventional lighting.

Install larger glass windows to illuminate your office during the days with natural light; You can reduce energy use and create a better environment for your employees.

Installing smart meters helps you manage your energy supply with the latest technology. The first advantage is that you will pay accurate bills with no estimated consumption.

Second, you can monitor your energy usage on a daily basis, allowing you to detect anomalies in your energy usage. You can then act quickly to correct any problems.

Using a heat pump is a great way to reduce your annual energy consumption as a business. A heat pump uses and compresses outside air to heat it up and produce hot air and water that passes through your workplace.

In contrast to a conventional boiler, the heat pump system is several times more efficient and does not depend on natural gas supplies. The heat pump significantly reduces carbon emissions and lowers energy bills.

Install solar panels on your business property. By installing solar panels, you can make significant savings in the long run.

The cost of solar panels was much less than ten years ago, and the technology is better. You will recover the initial investment of the solar panels within the first four years.

Solar panels last up to 30 years, so they can be a great long-term investment that helps your money and the environment.

Energy Audits – Should I Consider Them?

Energy audits are a great way to review your current energy consumption and assess how you are using energy. An energy audit will provide you with valuable information about reducing energy consumption in your business and give you actionable steps.

It is worth discussing this with your current power supplier, as many of them offer this as a free service. If you are looking to move suppliers, the new supplier may provide you with an energy review shortly after you transfer the supply to them.

There are three types of energy audits. These are phone audits, internal audits (internal employees are provided with a checklist), and on-site audits performed by the supplier or auditor.

What are the benefits of an energy audit?

Reducing your environmental impact as a business

Promotes sustainability through business

– You can finally save money on your energy bills

– Helps reduce your exposure to rising energy prices.

We hope this article was useful to you. At AquaSwitch, we look to help businesses save money on their business energy bills with our comparison service.

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