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3 ways businesses can save energy and manage costs
Nov 09, 2020

Today’s businesses are operating in a landscape marked by disruption and uncertainty. Finding ways to become more efficient and reduce costs wherever possible is a top priority. The good news is, energy is one area where there are lots of opportunity to reduce outgoing spend no matter what industry you’re in. In fact, research shows that a 20% cut in energy costs can represent the same bottom line benefit as a 5% increase in sales. Here are three ways you can do it:

1. Reduce how much energy you use

It’s no surprise that using less energy will have a positive knock-on effect on your energy bill. The question is, where to start? Before you do anything it’s a good idea to look at where your energy is going and at what times of day. An AMR Metering System, which closely monitors your energy usage, is a really simple way to do this. Once you have that big picture understanding, you can look at ways to use your energy more sustainably.

Now this could involve something simple, like upgrading to LED lighting or installing controls that can automatically control your heating, lighting and cooling. Or a bigger change, like replacing an old inefficient boiler or air conditioning system with a highly efficient, low carbon alternative.

2. Generate your own energy

When you can generate your own energy you get the best of both worlds. Not only will your investment put your business on the path to long-term sustainability, you’ll also save energy and lower your bills along the way. So, what options are available?
 
Solar PV panels are one such way where your business can save energy, generate income and boost green credentials. Other options include biomass heating, combined heat and power (CHP), air source heat pumps and battery storage. All allow you to generate your own renewable energy on site. The first step is identifying which one will be the most impactful for your business.

3. Access flexible services

A third and increasingly popular option for businesses is to enrol in a demand-side response (DSR) scheme. It works by allowing you to work with and buy directly from the National Grid at certain times. This will save you money and even create a guaranteed revenue stream for your business.

Want to know more?

The first step to finding out what opportunities can help you better manage your energy cost is a Virtual Energy Audit. It provides detailed information that’s specific to your business and energy demand so you can pick and choose the right solutions for you. You can find out more and register your interest below.

Balancing planet and profit during unprecedented market volatility

06 Jul, 2022
Balancing planet and profit during unprecedented market volatility

Why are energy prices high compared to a year ago?

By Vander Caceres • 14 Jun, 2022
Wholesale energy prices have experienced unprecedented levels of volatility since the end of summer 2021, with both day ahead/spot and future contracts surging to all-time highs. In the last couple of months, prices have decreased but still remain high compared to a year ago. This period of high energy prices is expected to continue for the foreseeable future (see next section). Energy prices have surged for a number of reasons: A global increase in gas demand following the ease or end of Covid-related restrictions throughout 2021. After the pandemic, economies across the world started to recover. Asian countries like China saw their imports of Liquified Natural Gas (LNG) increase. This resulted in lower LNG shipments to the UK and Europe. On the supply side, the Covid-19 lockdowns pushed some maintenance work from 2020 into 2021 at a time when demand was recovering. In 2021, gas production hit a record low of 363TWh, 47TWh below the previous record low in 2013. Low production was the result of an extensive summer maintenance schedule which saw shutdowns at several major terminals, as well as the Forties Pipeline System which serves a significant proportion of UK gas and oil production. A lack of wind in the summer resulted in higher demand for conventional power. European gas storage in 2021 and Q1’22 remained far below previous years and it’s unclear how these are going to be replenished in the summer given the concerns around supply including the potential suspension of Russian gas flows due to sanctions. The 1,234km offshore Nord Stream 2 gas pipeline, which was designed to double the flow of gas between Russia and Germany (and by extension the rest of Europe) has been abandoned following the invasion of Ukraine. Gas storage in the UK is extremely minimal with capacity at less than 2% of the UK’s annual demand, compared with 22% for other European countries. Whilst the UK is not heavily reliant on gas coming from Russia, it sources almost half it’s gas supply from Europe. Hence, wholesale gas and power prices in the UK are now subject to knock-on-effects from the conflict in Ukraine.

What does volatility mean for your journey to net zero?

20 May, 2022
Amidst rising energy costs, digitalisation, growing pressure from stakeholders and increasing regulation, organisations may struggle to define their pathway to a low-carbon future. What can you do to protect your business’ net zero plans from the challenges of volatility? Disruption and volatility are putting organisations under pressure. Digitalisation and new technology developments continue to challenge existing business models. Its increasing dependence on energy and encouraging businesses to drive change to secure competitive advantage. And as customers, employees and shareholders look to engage with companies who understand the importance of decarbonisation, pressure is mounting to prioritise sustainability.
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