Energy management is becoming more of a critical aspect of running your business. It's not just about reducing carbon footprints or achieving net zero goals, but also about understanding the intricacies of energy procurement, utilising energy brokers, and navigating the energy marketplace to make it cheaper for your business. In this article, we explore how energy management can impact your business's bottom line.
According to Sustainability Victoria, understanding your business energy bill is the first step towards effective energy management. On your energy bill, you'll see various charges. Some of these include retail energy charges, network or supply charges, metering and service charges, and environmental charges, to name a few. These charges are determined by factors like your energy usage, the cost of delivering electricity to your site, and the retailer's obligations under the Renewable Energy Target.
Energy brokers can play a significant role in helping you find the best energy rates and simplifying contract details. They can help you negotiate an energy contract tailored to your business's needs, potentially saving you significant amounts of money.
Energy Action's Utilibox is a comprehensive energy management platform that provides businesses with the tools they need to effectively manage their energy usage. Utilibox offers real-time data monitoring, cost and consumption analysis, and reporting capabilities. This tool makes it easier for businesses to identify inefficiencies and implement energy-saving measures.
Renewable energy procurement is another crucial aspect of energy management. It involves sourcing energy from renewable sources, thereby reducing your business's carbon footprint and moving towards net zero emissions. Many businesses are now opting for Power Purchase Agreements (PPAs), where an energy retailer installs renewable energy infrastructure on your site, and you pay a lower rate for electricity.
To answer the question, "How can energy management impact your business's bottom line?" - it's all about understanding your energy usage, finding ways to reduce it, and sourcing energy from cost-effective and sustainable sources. By doing so, you can significantly reduce your energy costs, improve your business's sustainability, and contribute to a greener future.