The cost of energy has risen significantly in recent months and whilst there’s a heavy focus on how individuals will cope, business owners are also in need of answers as to how to manage rising energy bills.
As a business, you cannot just ‘switch off’ to reduce your bills. You have a responsibility to create a comfortable working environment for both employees and customers. So, you need an alternative way to manage rising energy bills.
The good news is, there are options for businesses looking to manage rising energy bills, meaning you may in fact be able to alleviate some of that financial pressure.
Check-in with your current energy provider
With prices rising, many providers are finding ways to work with their customers to retain their loyalty through this difficult period. You may be able to arrange an alternative payment plan to spread out the cost of your energy bills over an extended period.
Also, some providers do offer schemes or grants to help businesses facing hardship, so it’s definitely worth picking up the phone and seeing what your provider can do to help you.
Shop around for lower prices
Whilst prices are rising for all providers, it could be smart to shop around and see if you can reduce your energy bills by switching providers.
The commercial sector doesn’t offer price caps like seen in domestic energy, but because many providers offer perks to new customers such as newcomer discounts, it may still be worth shopping around to see what offers are out there.
Price comparison websites offer a comprehensive list of suppliers and their prices, but they are subject to change, so it is worthwhile checking different comparison websites.
Improve energy efficiency in your business
Improving your business’s energy efficiency isn’t only great for the environment, but the more energy efficient your business is, the less you will spend on your energy bills.
There are larger and more timely investments you can make to strive toward energy efficiency and lower your carbon emissions, which we will move on to, but in the meantime, there are quick and easy measures you can take to immediately alter your energy efficiency:
Reduce your thermostat by 1C: Reducing your thermostat by as little as 1C, can drastically improve your energy bill. Many buildings run at a higher temperature than necessary to work in a comfortable environment, and overheating is costly. The Carbon Trust found that increasing your thermostat by just 1C can in fact increase your bill by 8%!
Switch light bulbs: Old filament light bulbs are notoriously less energy efficient, but unfortunately many people are unaware of this. Particularly for businesses, where people may operate in buildings at all hours, lighting is a large proportion of your energy consumption. Making a simple move to LEDs or halogen light bulbs is much more energy-efficient, and lasts longer too, making them more cost-effective.
As well as considering switching light bulbs, it’s also important to switch off lights. Not all rooms need to be lit all the time. Bathrooms and utility rooms, for example, may only be used for a minimal portion of the day, meaning having them turned on is a huge waste.
Installing sensors is a great idea, or simply encouraging people to turn off the light when they leave a room will help reduce your business’s energy consumption.
No more standby: It’s easy to place equipment on standby when they are not in use. For example, putting computers on standby in the office overnight – but doing so is costly. Making sure everything is turned off after use is a good way to ensure no energy is being wasted. To put it into perspective, keeping a computer on overnight can cost a business £11 a year per computer, which for a larger office is a huge expense.
Seek Government support
Of course, we have already addressed that the government has not offered any immediate support to help with rising energy prices, but other grants and schemes are available that can in fact help fund energy.
Regularly check what grants are available in your area, to find out what additional support your business is eligible for. There are currently grants and schemes available across different regions to help with energy efficiency. For example, many regions such as the West Midlands, Suffolk, and Tynes Valley regions currently have respective grants available of between £20,000 and £100,000 to fund energy efficiency audits, as well as grants for the installation and purchase of works to aid in lowering emissions and energy consumptions.
New grants and schemes are added regularly, so checking to see what is available in your region could drastically help your business not only save money on energy bills but become more sustainable.
Visit the government website to search for options near you.
Lower carbon emissions
Energy efficiency is intrinsically linked to reducing carbon emissions. Though it is a long process in working to become a zero-emission business, it is something we should all be working towards collectively.
The government is actively incentivising businesses to reduce their carbon footprint in line with the UK’s goals to be net-zero by 2050. To help businesses work towards this goal, there is government assistance available. For example, many businesses can claim capital allowance when purchasing equipment which will help your business lower their carbon emissions.
This will not only help the environment, but they will seek to lower your energy bill as well as being more tax efficient.
We can help you too
We know that managing your energy bill is a stressful task, particularly because of rising costs across the board.
But as you can see above, there are many options you can take to help manage and lower your energy bill both immediately and in the future with investment.
At Shenward, we are always here to help, whether it’s to discuss overheads or to find eligible grants. Contact us today at firstname.lastname@example.org to receive dedicated support.