Energy Cost Strategy and Management
Here at WiseUp Energy Solutions, we talk a lot about Energy Cost Management. We want to shout this from the rooftops, so everyone is talking about it.
It’s far more than getting the lowest electricity prices. Perfect alignment between energy costs and energy efficiency will improve your bottom line.
Managing your energy costs is a bit like maintaining your own health. There is no one quick fix, with many aspects contributing to overall health.
- mental health
- and many more
Optimum health is best achieved by looking at all components and fine-tuning to achieve lasting results. Good personal trainers guide their clients through all these factors and don’t just focus on exercise alone.
Energy Cost Management takes a holistic look at every component contributing to your business energy bills—like, having a personal trainer for your business.
The starting point for personal trainers, and energy cost management, is to build a profile to assess the current state and begin to formulate a plan for success. It’s not one size fits all. Success requires a strategy and a plan to implement this strategy.
Energy Cost Strategy
WiseUp’s Energy Cost Management service will work with you to build a strategy for your business and provide a plan to realise this strategy.
So what factors are considered in developing your energy cost management strategy?
Energy Plans and Contracts
- What energy plans and energy contracts do you have in place?
- How do you buy electricity now?
- Do you accept whatever your current provider offers you?
- Do you self-manage and shop around?
- Do you know how much other businesses are paying for power?
- Do you use the services of an advisor or broker?
- Are you aware of all fees and commissions you are paying?
- Are you aware of the value of having usage data for your business when procuring energy contracts and solar investments?
- Are you 100% confident that you are not paying more than you need to for electricity?
- Are you aware of energy market prices and trends?
- How many sites do you have?
- Will consolidation and or procuring in bulk reduce your business energy costs?
- What’s your trust level with your current energy provider?
- How do you know that your electricity bills are 100% correct?
- Do you understand all the fees and charges on each bill?
- Do you know your current electricity network classification and why it matters?
- Do you know how could this impact future energy procurement decisions?
Managing Electricity Contracts
- Have you got a timeline to manage your electricity contracts?
- Contract end dates
- How to avoid retailer penalty rates
- When and how to go to market for new contracts
- Who is going to make decisions and sign off?
- What sort of electricity meter do you have?
- Do you have access to and understand the value of your meter data?
- Is this meter fit for purpose, giving you a breakdown of power consumption?
- Would you benefit by having a customer direct metering solution?
- How do you use energy?
- What are your business operating hours? Day/Night/Weekends?
- Is this likely to change?
- Do you understand demand charges and how they impact your bill?
- Can a change in your business process have an impact on reducing your Peak demand charges?
Energy Efficiency and Solar
- What impact will energy efficiency or installing solar make?
- Will this impact your next energy plan or contract?
- Will this impact your network classification?
- Will this impact your network tariff?
Energy Cost Strategy
Having a strategy that ensures the lowest energy costs and the best-fit energy solutions is a fantastic start. Most businesses in Australia do not have this strategy.
Energy Cost Plan
The next step is to build a plan to implement this strategy.
See our Energy Cost Management Services page to get a complete view of what’s included in the plan and the business benefits.