Tips for Tackling Energy Costs as a Small Business

With the globe in the midst of an energy crisis and many small businesses facing spikes in gas and electricity costs, the reality of tighter budgets is going to be felt by all in 2022. Indeed, with the average unit price for business electricity set to rise considerably in some areas, where savings can be made is going to have to be very carefully considered.

This is no easy task given that budgets in lots of cases are already stretched thin thanks to the Covid-induced economic disruption of the past two years. However, taking steps to tackle your energy expenditure can also reveal opportunities for promising savings, which can help dramatically improve your business’s long term efficiency. Moreover, with green business management slowly stepping toward a Government-mandate, now is a good time to ensure your business aligns to these objectives. So, what can be done to meet the energy crisis challenge?

First, it is shrewd to stay up to date with the latest energy monitoring technology. With the Government currently overseeing a general roll out of smart meters to all small businesses and homes, these meters are a great way of measuring your energy expenditure, and their installation is free, quick and easy (usually taking less than an hour and only requiring the power supply to be switched off for a short while). Rather than needing to take readings yourself and receive estimated bills as a result, smart meters instead send your energy readings directly to your supplier, providing more accurate data and a better gauge of your energy costs and hence of your budgeting requirements. Smart meters can also link to free energy management programs, which allow you to analyse data from regular readings and identify patterns of expenditure.

Changes to your energy use can then be made based on this evidence. For example, if energy spikes are occurring thanks to unnecessarily running equipment or lights, you may want to consider encouraging employees to turn off machines or install motion-sensors on light units (data indicating unused appliances which are running is incredibly useful). This energy data can also inform which tariff will best meet your energy needs - indeed, as our businesses become increasingly digitally integrated, energy providers will rely on such technology more and more to inform their tariff projections and structure - by engaging with smart meters now, you are futureproofing your business to these inevitable changes.

Publicising these green moves on social media and why you have made them is another good business opportunity, as displaying your commitment to clean and efficient energy is attractive to potential customers and staff alike, who will be energised and moralised that your organisation has clear energy objectives.

The move to smart technology will affect all aspects of society, so it is savvy to make the most of these opportunities by implementing smart technologies now, allowing you to not only establish your green credentials and set an admirable example but also make your business more efficient in the long run.