2023 Winter Business Energy Savings
Quick Tips for Winter Energy Worries
How To Prevent Winter Energy Woes
As winter approaches, the cost of winter energy – at home and at work – is on everyone’s minds. It’s a good time to scrutinise energy consumption with savings in mind.
The domestic energy price cap is falling to £1834 a year – although the £400 subsidy looks unlikely to be repeated this year. This rollout of government support, as well as Ofgem’s requirements on energy suppliers to contact customers who are in arrears, are a sign of the times. With energy debt at a record £2.6 billion, this is a robust approach to ensure liquidity of firms and prevent bad debt becoming higher energy prices.
Amid speculation that gas prices may rise this winter, energy saving measures remain the first step in controlling energy spend – reducing the need to rely on volatile international gas supplies.
What is affecting energy bills this winter?
As winter sets in, changes in the weather mean intensified heating and lighting needs. Many business owners feel the natural worry around reliability of grid supply and, of course, the high cost of doing business.
Europe’s gas stores are at 90% as we go into winter. However, the gas market is especially sensitive to changing conditions. Russian LNG pipelines remain open, but Australian strikes, closed gas fields as a result of the Middle Eastern conflict, and infrastructure damage are all baseline considerations that could see spikes in response to market changes.
Weather defines demand. Of particular focus, geopolitical events are also a trigger for market volatility. There are rumours that Russia will target Ukrainian energy infrastructure this winter. The conflict between Israel and Hamas also continues to unfold. What happens in other markets also affect what happens in the UK – and we need to wait and see if Asian demand impacts Europe’s supply.
Put the power back in your hands this winter. Follow these top tips to consolidate your portfolio and maximise savings this winter.
The cheapest energy is the energy you don’t use
Cutting consumption is the best way to save on your energy bills over the winter period. The most effective way to reduce consumption is to understand consumption. Investing in metering, monitoring, and MOP and DA/DC solutions are the best way to track and understand usage. This forms the very foundation of future energy saving strategies.
This winter, get buy-in from your team to reduce consumption wherever possible. It is also invaluable to get insights from maintenance professionals to reduce energy wastage. Teams that offer comprehensive maintenance services can advise on:
- Insulation and whether heating efforts are diluted by infrastructure.
- Whether heating systems, boilers, and pipes are well-maintained and working effectively.
- The impact of maintenance on key machinery efficiencies.
- The most cost-effective lighting systems.
The power of the right contracts and tariffs
Are you sure you’re getting the most value from your current provider? Conducting periodic tariff and contract comparisons ensures your energy contracts are the right fit for your business and its changing needs.
At Smarter Business, we compare quotes from 27 suppliers and recommend contracts that are best-suited to your operations. We leverage our supplier relationships and industry expertise to give you expert advice for short- and long-term savings.
Get smarter about business energy this winter
Contact Smarter Business today to implement energy saving strategies that will save you money and time today and into the future.