Opinion

4 Costly Energy Mistakes Businesses Commit

business

Energy and utilities are one of the biggest expenses for starting businesses, especially those that are energy hungry. Yet many continue to make mistakes that are not only ending up costing them more, but consuming more resources than they should. Just by making a few changes to the way they operate, they could significantly reduce their operation costs, and be more profitable. Here are some common energy mistakes businesses make.

 

Not Shopping Around

Too many businesses think that they absolutely have to stick with the big 4 and that they won’t be able to find better deals outside of those. Or they expect to have issues with smaller competitors – but that couldn’t be farther from the truth.

Smaller competitors have less clients, and often end up giving them more attention. They also might value small clients more than bigger firms. This is why you should take advantage of the choice that you have and look for a better deal on energy.

One thing you could do is check a business electricity comparison site. These sites allow you to compare quotes from multiple business energy suppliers at once and check which packages are the best for you. You can then use these quotes and speak with your current provider to see if you can get a better deal. Or, simply make the switch if you feel like you can get a much better package elsewhere.

 

Not Working with an Energy Advisor

This is one of the first things any business should do. Working with an energy advisor will allow you to make better purchasing decisions and find ways that you can save on energy. They might be able to spot things that you may be doing wrong and give you suggestions. Make sure that you work with an advisor who is familiar with your industry and follows up on you more than once a year.

 

Not Investing in Efficiency

Don’t be afraid to invest in more efficient equipment, even if the cost might seem steep at first. While things like LED or CFL lights cost much more than incandescent bulbs, you might benefit from incentives that will offset the costs. Not to mention that you’ll end up recovering these costs in the future with less frequent replacements and energy savings.

 

Mismanaging Equipment

Did you know that devices continue to consume energy when they are plugged in even when they’re not in function? These energy vampires could account for as much as 15% of your energy consumption in some cases.

So, make sure that everything that isn’t in use is plugged out. Energy strips are a great way to make the process easier. Make sure that all computers are set to sleep after 20 minutes and make sure that everything is shut down during the weekends and at the end of shifts.

Correcting these mistakes can make a huge difference on your bottom line, and allow you to save money that you’ll be able to put to better use. Always find ways to plug leaks, and don’t be afraid to look around for better deals.

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