Over the last couple of years, business electricity prices have been volatile and have risen to unprecedented levels.
We discuss if business electricity prices are continuing to rise and how you as a busienss can reduce the cost of your overall electricity bill.
Are business electricity prices still rising?
No, they’re not. Prices have fallen significantly over the past few months. This is due to relatively mild winter across the UK and much of Europe. As we enter the summer months, the electricity demand will continue to decline.
In the meantime, we recommend you follow one or more of the electricity-saving tips below;
How to reduce your business electricity bill
Here’s how to reduce your current business electricity bill:
Compare business electricity suppliers
As the government’s help for businesses has been significantly reduced, the ability to save on your rates has increased.
We recommend that you compare business electricity and browse through a variety of business electricity suppliers to save on your bill. Here you can compare the latest rates and standing charges and make a switch to a new supplier.
That way, you’ll instantly decrease the cost per kWh, and the following tips will enable you to reduce your bill further.
Energy-efficient lighting
Replace traditional incandescent bulbs with energy-efficient alternatives like LED lights. LED bulbs use significantly less electricity and have a longer lifespan.
Equipment upgrades
Invest in energy-efficient equipment and appliances that carry the ENERGY STAR label. These products are designed to consume less energy without compromising performance.
Power management
Encourage employees to turn off lights, computers, monitors, and other equipment when not in use. Implement power management settings on computers to automatically enter sleep or hibernate mode after inactivity.
HVAC optimisation
Regularly maintain and clean your heating, ventilation, and air conditioning (HVAC) systems to ensure they operate efficiently. Consider installing programmable thermostats and using zoning techniques to heat or cool specific areas.
Insulation and weatherproofing
Improve insulation in your business premises to reduce heat loss during winter and minimise heat gain during summer. Seal gaps or cracks around doors, windows, and walls to prevent drafts and maintain a comfortable indoor temperature.
Employee awareness and training
Educate and engage your employees in energy-saving practices. Encourage them to adopt energy-conscious behaviours, such as turning off lights, using natural light whenever possible, and reporting any energy wastage or inefficiencies.
