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New virtual energy audit service is the first step to cutting emissions and costs
Nov 27, 2020
Many businesses would like to become more sustainable but find it hard to reconcile the costs of investing in new energy efficient tech with the benefits and payback they’ll actually see. In a recent interview with Future Net Zero, Liam Burlinson and Teo Littera speak about the new technology that looks set to change all that. Below are some of the key takeaways.
Thinking innovatively
Feedback from customers is clear – information about saving energy is either generic or too complex and focused on larger industrial and commercial businesses. As a result, many businesses struggle to understand their own energy use and where the biggest energy-saving opportunities lie. That’s where the new virtual auditing service comes in.
The innovative new technology uses live video streaming to conduct a tailored energy review of a customer’s business. The aim is to give customers access to meaningful information that’s specific to their energy demand. Armed with this insight, businesses are much better equipped to take their first step on the path to lower carbon emissions.
The energy auditing service also has the added benefit of working remotely, without the need for a face-to-face engineer visit – ideal during COVID-19 – while also helping British Gas Business (BGB) keep its own carbon emissions down because there’s less travel in the field.
How it works
Customers are invited to launch the virtual audit via an email or text message, which contains a link to an app. That’s where the live video and audit stream initiates. Everything is recorded by a front-facing camera on a mobile phone and the software even allows customers to use pointers, take photos and write notes.
By getting closer insight into a business’ energy use in this way, solutions can be much more targeted and impactful. For businesses looking for simple ways to reduce costs and become more sustainable in the long-term, this new tech promises to be the first important step in helping them do exactly that.
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Balancing planet and profit during unprecedented market volatility
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.
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.