Business energy prices could rise in the coming months. But not to worry. Because at Bright Utilities we know how to save yourself precious funds that could be spent elsewhere within your business. However, first of all it is important to know exactly why energy prices are set to rise this year.
Why Are Prices Going to Increase?
- Wholesale Price Increases – Due to the covid-19 pandemic the demand for energy has decreased. Which you can imagine is not great for energy companies. However, as the demand has starting to rise again. So have gas prices. Electricity prices have also started to rise. This is simply because compared to 2020 there has been fewer electricity supplies that are predictable. Which in turn has caused an increase in electricity prices.
2.Costs For Suppliers Have Risen – Distribution costs for suppliers have risen which means costs have now passed on to the customer. This accompanied with the fact that energy suppliers in the UK have had a levy put in place which states that they must source a portion of their energy from renewable sources, such as wind turbine farms or hydro-electric energy.
3. Inflation – According to the Guardian since April the UK has doubled inflation. Which means that energy prices amongst other commodities are set to rise.
What You Can Do To Save Money
There are a number of ways in which you can reduce your business energy consumption and save yourself money.
1. Turning off equipment – this is the easiest and most obvious way in which you can reduce your energy consumption is to ask staff to turn off equipment when they aren’t using it. Of course this rule should be followed by yourself too.
2. Installing lighting timers – is also a brilliant way to reduce your business energy consumption. These automatic lights will help you save money by switching themselves off when no movement is detected. Allowing you to rest easy knowing people within your business are only using energy from lightbulbs when needed.
3. Cutting Down Your Water Usage – This is a crucial step in reducing the energy consumption within your business and should not be ignored. A lot of businesses can overlook how much water they actually use. Depending on the type of your business, the savings could be absolutely massive. Installing low-flow taps into employee bathrooms and kitchens could reduce water consumption greatly. Bright Utilities can help you reduce your cost further.
4. Don’t heat unused areas – Again this is a pretty obvious way to reduce energy consumption. Although sometimes it is easy to overlook things like this when your day is spent trying to get your business to run smoothly. Only using heating in necessary areas and you will find that your energy bill will have decreased, making you massive savings over a prolonged period of time.
5. Switch To Energy Efficient lights – Although LED lights can be expensive as an initial investment. The savings you will make over time will be phenomenal. According to the government businesses can save up to 80% on their lighting bills by making the switch to LED over traditional lighting.
6. Turn the heating down – Lowering the temperature of your workplace by even 1 degree can actually help you trim down your energy usage by 8%.