New Year MOT: Top five business energy checkpoints
The energy market, over the past twelve months, has been subject to unprecedented volatility, influenced by both economic and geopolitical events. Many public organisations are facing increased costs across both their utilities and general operations and are looking for ways to reduce overheads.
With the new year fast approaching, our experts have compiled their top five business energy checkpoints to help get your organisation in order, for 2023.
Top five business energy checkpoints
Often coined ‘the forgotten utility’, water can be one of the most significant areas when it comes to cost savings. Many organisations across the UK are still yet to implement a water strategy and could potentially be spending far more than needed.
The water market was deregulated in England in 2017, allowing organisations to shop around for their supplier. This meant that businesses could attain a better level of service from there provider, whilst also benefitting from consolidated billing, a dedicated point of contact, improved payment terms and meter read frequency, and discounts from default rates.
However, one challenge many organisations face is that meter reads are typically taken at the convenience of the Water Company, as and when they wish to bill you. Because of this, public organisations have little data to understand their consumption and improve it. This also means that most organisations estimate their usage which may result in overpaying or being hit with a large catch-up bill.
Another challenge for many public bodies is that their meters are located off site either in car parks or on roads which means taking meter readings is a highly manual process. Automated Meter Reading (AMR) devices can solve this issue by taking meter readings remotely, which provides you with; better granularity of data, regular accurate reads to forecast and budget effectively, supports ESG strategies and protects you from unknown leakage and waste.
Leaks are the most common way organisations lose money relating to Water, a burst water pipe could easily lose 1,500 litres per hour, costing as much as £41,000 per year if left unchecked. To ensure your organisation isn’t losing out on its water use, conduct a water audit to help identify any areas of high consumption and wastage.
However, your current water use isn’t the only area you should be paying attention to. One in three water bills contain errors which means you could be unknowingly overpaying. A historical audit of your water bills could help to identify any overcharges going back as far as six years. Once any overcharges are identified, you can then recoup these costs which in turn can be reinvested elsewhere.
With the UK’s 2050 net zero target looming, many public sector organisations have already started crafting their sustainability strategies. If you already have a green plan in place, take the chance to review it to check it still aligns with your organisation’s carbon reduction goals and commitments.
At the same time, you could look to review and analyse your organisation’s current and previous decarbonisation efforts. This can help to articulate your efforts so far to your stakeholders and clients and may also highlight areas where more attention is needed. Our buildings are responsible for 25% of the UK’s Greenhouse Gas (GHG) emissions, which is why it’s vital for public organisations’ to reduce their carbon consumption. Your green plan can help you achieve this.
Improving your energy efficiency is crucial to the UK’s success in reaching net zero. Many organisations have already made headway in making their public buildings, operations, and processes much more efficient. But there are still opportunities for organisations to reduce their consumption and thus improve their energy efficiency further.
There are several things you can do to further improve your energy efficiency including:
- Upgrading old technology and equipment
- Work with an environmental or energy sustainability consultant
- Increase employee awareness with initiatives and or incentives
- Install Automatic Meter Readers (AMR) to collect Half-Hourly (HH) data
- Invest in renewables and on-site generation
- Reduce the amount of heat, energy and cooling used
- Conduct regular site audits
These can all help to ensure that your sites are as energy efficient as possible.
Data is at the heart of everything when it comes to energy and sustainability. Without it, you wouldn’t have direction or know how well you are performing.
Energy Management Software enables you to better understand your energy data and provide intuitive insights. Data automation powers your software, leading to increased efficiency, cost savings and better carbon management.
With many businesses already implementing their net zero plans and some even committing to meet their target well before the 2050 deadline, the new year is the perfect time to review your net zero strategy.
At the recent COP27 conference, the International Organisation for Standardisation (ISO) published their free to obtain – common principles, guidance, and definitions to aid net zero target setting and supporting plans to crack down on greenwashing across all sectors. The guidelines are based on the recommendations of 1,200 global experts and took three months to produce.
Understanding the finer details of your own net zero strategy will help you know if you will reach your target in time, or if more aggressive action is needed. Work with an expert to ensure your business’ energy is on track and they can help you reduce costs and propel your net zero journey.
Get in touch with our experts today to see how we can help your business and email us at email@example.com.