How to get started with reducing your energy bills
Quicks wins and smart investments you can implement today to save power and money in your business.
What causes a high electricity bill?
There are two main factors that influence your electricity bill – how much electricity you use, and how you are charged for electricity through your electricity company.
Two key questions to consider when looking to reduce your electricity bill are:
- Can you reduce the amount of electricity you pay for?
- Are you on the best plan for your business?
If your bill has increased suddenly, there may be a fault in your equipment, or an error from your electricity company.
Can you reduce the amount of electricity you pay for?
The best way to reduce the cost of your electricity bill is to reduce the amount of electricity that you use and need to buy from the electricity company.
Think: team, timing, technology to reduce consumption, and the amount of electricity you pay for.
- Team – One of the cheapest ways to reduce your energy bill is by making small changes to how you work day-to-day. Use the energy calculator to see what energy-saving actions suit your operating activity and get your team on board with your energy savings goals to reduce your bill.
- Timing – Understand how and when you use electricity and look for opportunities to reduce the amount of energy you use at more expensive times. Installing an energy monitoring system, or requesting usage data from your electricity company can help with this.
- Technology – Make the most of energy efficient technologies, and maintain your current equipment and systems to reduce energy use and costs. Some simple actions are included below.
- Upgrade your lighting to energy efficient LED lighting. This could reduce your electricity bill by up to 30 percent.
- Replace equipment and appliances with energy efficient models, appliances that are rated 4 and 5 cost up to 50 percent less to run.
- Install timers and occupancy sensors to switch things off when they’re not being used, to avoid wasted energy and unnecessary costs.
- Maintain equipment and appliances regularly. Keeping air-conditioning systems and fridge seals in good condition can save on energy costs and increase their life span. A qualified contractor will be able to help you with this. They can also identify faults in your equipment that might be draining your electricity, and your pockets! Without regular maintenance an air conditioner loses about 5 percent of its original efficiency for each year of operation.
- Install your own solar system. Gain energy independence by generating the electricity you need to power your business from the sun.
Are you on the best electricity plan for your business?
- Switch electricity companies. Compare your plan with others in the market, to see if another company will offer you a better price, or better value. Recent research by Energy Consumers Australia shows that businesses could save 20 percent on their power bills simply by changing electricity companies. For more visit: How to switch electricity companies to save your business money.
- Make the most of competitive renewable energy plans. Did you know that it is possible to reduce your electricity bill, and reduce your environmental impact by using renewable energy? With growing demand for more sustainable options, electricity companies are offering competitive renewable energy plans, that are cheaper than some retailers’ fossil fuel dominated plans. If you haven’t shopped around recently, you could stand to save hundreds of dollars by switching plans, and improve your sustainability performance in the process.
- Change your tariff. Small businesses are often put on standard plans, without considering what cost structure (tariff) will give them the best value for money. Selecting the right tariff for your business can be an easy way to get a quick saving on your electricity bill. One way of doing this, is to call your current electricity company, and ask if your current plan suits your business. Before doing this, it can be helpful to have an idea of what plan you think might be best for you. To get your head around what plans might provide you with good value it helps to understand what types of tariffs are available, and how electricity companies calculate the cost of your bill. This sample bill is helpful to understand how your total electricity costs are calculated.
For more visit: The three T’s to become an energy-savvy operation
Where to next?
How to switch electricity plans and save your business money
Turn on the savings by choosing an electricity company that understands you.