Energy costs can account for a sizeable proportion of a business’s overheads, which means that finding ways to reduce energy expenditure can quickly deliver significant savings.
Select the right energy buying strategy
Selecting the appropriate energy buying strategy is largely driven by the level of risk that your business is willing to take as part of the procurement process.
A low-risk approach to achieve a lower price for your energy can be to join an energy buying basket. This groups your consumption with other businesses to present a larger overall consumption to suppliers, which in turn generates a more competitive price. The Power Direct Ltd basket allows a comparison between the basket price and the individual price for your site, while also allowing you to opt out throughout the process, meaning it really is a low-risk option to procure a competitive renewal price.
Are your bills correct?
Checking and validating invoices can ensure that any errors are identified and can be quickly rectified ahead of any payment being taken.
Additionally, you might be surprised to learn how common it is for energy bills to be wrong. In 2018 Power Direct Ltd’s bill validation service checked 10,817 invoices to identify any discrepancies, and we found that 8% of the gas bills and 20% of the electricity bills were wrong! From inaccurate usage data to the wrong VAT rates being applied, there are so many ways in which a business energy bill can be wrong that taking up a bill validation service can be very worthwhile for many.
Promote energy saving behaviours amongst your staff
There are innovative ways in which you can encourage your staff to make small changes that drive down your energy consumption. Delivering a training session on ways in which staff can save energy can give them the confidence to make a change. And you can encourage them further through incentives, or create competitions based on reducing consumption, with rewards on offer and the prospect of exposure in staff bulletins and on social media. This, in turn, supports your corporate social responsibility agenda.
Call our team of energy experts if you would like an informal discussion on how we can help you on your journey towards smarter business energy: 0333 1234 313.