Business Energy Update - Controlling Your Energy in an Unstable World
2nd September 2020
On average, a business wastes about 20% of the energy it uses. Add this to the predicted changes in future energy supply leading to frequent price volatility and the cost to businesses could potentially be huge.
With the prediction of fossil fuel demands peaking in 2023 resulting in the closure of coal power plants that will leave the UK exposed to short power capacity, businesses could struggle to keep the lights on. This could lead to frequent price volatility so energy procurement alone will not be enough to effectively manage your energy costs.
This is the current forecast to 2022 showing an upward trend driven by a series of market factors.
Source: Smartest Energy 2020
Energy management is everyone’s business
Research indicates that on average, a business wastes about 20 of the energy it uses.
We understand when working in busy environments it’s not always easy to find the time to closely monitor employees and how they are using energy, to make sense of confusing quotes to find the best deal, or to understand what the best options in renewable energy might be for your business.
That said, around a quarter of UK small and medium-sized businesses put sustainable practices like energy-saving management as a top priority.
So how can businesses get a grip on their energy efficiency and make valuable savings?
Develop an energy policy and strategy
If you are serious about energy saving management for your business, then you’ll need to start with a policy and strategy.
An energy policy is a written statement that details exactly how resources should be used within the business, and the strategy document will explain how energy usage will be managed linked to that.
You should take a top-down approach to energy management, from a company director to the office cleaner to demonstrate to everyone how important it is, and that it is everyone’s job to play their part.
So where do you start?
These are the four main factors that an energy-saving strategy might include:
- Staff engagement
- Smart investments
- Government initiatives
- Better buying
Energy Partner Professional Energy Purchasing can help you develop your energy strategy to future-proof your business and mitigate the risks of energy compliance and supply chain pressures.
Get in touch for more advice on this or any of their other energy management services.
0114 327 2645
For further information on the future of energy sources read this article from Carbon Tracker