19 Nov 2019
Businesses face a variety of costs to enable them to deliver their products and services and with energy prices on the rise, utility bills can have a big impact on a business’s finances.
Optimise Your Utility Spend
As one of the UK’s leading energy consultancies, Inspired Energy plc currently help over 15,000 clients manage their utilities, using their extensive knowledge of the sector to optimise the value of every pound spent. Here are some ideas on how to future-proof your business against mounting costs.
BUY IT WELL
Energy prices fluctuate daily and can be affected by a whole host of factors, including demand, weather conditions and even political factors. This can make it hard to stay within budget, meaning that energy procurement becomes a stressful and time-consuming process. This can be a significant burden for SMEs, who might not have the resources or time available to dedicate to procurement.
Choosing a consultant led approach can relieve this burden. Inspired work with all major UK suppliers to give you access to a choice of supply contracts suitable for your requirements. We are independent of all suppliers, meaning we work in your best interests to secure the right contract for your business.
USE IT BETTER
Making sure your organisation is operating efficiently is key to lowering costs. Something as simple as switching to energy efficient lighting can have a huge impact on your bottom line, with LED lights using up to 90% less energy than traditional lighting.
Other measures include a comprehensive site audit. This will highlight exactly where your business is wasting money by identifying reasons for high energy consumption, which can be investigated and rectified – leading to immediate savings.
For large business, or those with multiple sites, profile alerts can automatically detect unusual patterns of energy consumption. For example, should electricity consumption be particularly high in the evening when your business is closed, profile alerts would automatically identify this and notify an appropriate person, so that overspend can be avoided.
MAKE YOUR OWN
On-site generation is becoming a popular option for businesses looking to protect themselves from rising utility costs, while supporting a low-carbon future. Making your own energy has many advantages but is very much dependent on your business premises. We can help by carrying out a site suitability assessment and advising on which technology is the best fit for your business.
DO IT RIGHT
Another way of achieving significant cost-savings is to use a bill validation service. Up to 20% of utility bills are thought to be incorrect, with non-commodity costs being the area where most inaccuracies occur. As well as making sure that your bills are correct going forward, historical invoices can be investigated, meaning you could be in line for a hefty refund. If any billing errors are discovered, our recovery team will manage any refunds or rebates, ensuring they are recovered quickly.