The costs of running a small business involve electricity.
Any business owner in Australia would declare electricity costs as unpredictable and unpleasant to their bottom line.
As of 2015, small and medium-sized businesses in Australia spent $10 billion on electricity and gas.
Electricity spending has seen, on average, a 10% jump from April 2017 to April 2018.
At Electricity Monster we compare electricity rates among our partner retailers to get your business the best electricity plans with the most attractive discounts we can find!
If that’s something you didn’t know, then we have a few more things about small business electricity that may blow your mind!
1. There are much sharper electricity rates in the market!
Shopping around for energy ensures that small businesses can secure competitive rates for the electricity they use.
Options are abundant in most Australian states as the electricity market has been open for private companies to operate freely.
With the intention of drawing customers, private companies are in a struggle to undercut the competition.
By aiming for the most attractive usage rates and high discount rates, businesses should stop at nothing to have the best.
Choosing a more cost-effective option confirms that the bottom line of your business will be healthier.
Electricity Monster prides itself on getting you the most competitive rates in the market visible to us.
In case you are unsatisfied with the retailer we set you up with, our Peace of Mind guarantee will cover any exit fees up to $100 for the first six months.
With this in mind, if you want to experience first-hand the service Electricity Monster provides, then call us right now at 1300 962 027.
Feeling like you are overpaying on power? Here’s how Electricity Monster can help you search for better electricity rates.
2. Your business may have big problems going unnoticed!
Most business owners are flying blind when it comes to making sense of their energy spending!
Information is gold for any business. A closer look into the business itself will provide a better understanding of how energy is consumed.
An energy audit will find just how much energy your business is currently using and highlight areas for improvement.
Get a professional into your warehouse, factory or office space and do a thorough inspection.
By all means, a professional’s views of the energy use in your property could bring some real insights.
Those insights may usually relate to locating any leaks in the insulation or getting an expert opinion over energy-efficient lighting.
Increasing visibility and nipping problems at the bud has the potential for creating huge savings!
3. Watch out for peak usage rates!
Most businesses typically observe business hours between 9 am and 5 pm.
Anticipating this, almost all energy retailers have placed high peak usage rates through those hours of the day.
Peak usage rates are typically much higher than off-peak usage rate.
Looking at the ‘time of use’ plans offered for small businesses in inner Melbourne by the big 3 – AGL, Energy Australia and Origin Energy, shows a striking difference.
*As of August 30, 2018, for plans under the Citipower network
To put it all in perspective, the average difference between the peak and off-peak time of use rates for each of the “big 3” retailers plans, is a startling 72%!
As a business owner, your mission ought to be making sure that any energy-intensive appliances or machinery don’t run during these times of the day.
For this reason, clamping down on using centralised heating or cooling during peak hours could go a long way.
4. Beware of the phantom! (Phantom Energy, of course)
In most offices with printers, copiers, toasters, coffee-machines, desktop monitors, CPUs and microwaves, “phantom” energy is a real headache.
Phantom power is the electricity used by appliances, even when unused but plugged into the sockets.
So, even if you are encouraging your workers to shut down appliances, phantom energy could be making their efforts ineffective!
Want a simple solution? Connect all appliances that are idle outside office hours onto a single surge board.
Just switch it off at the end of the working day and voila, you could be saving up to 15% a year on some appliances.
5. For energy efficiency, adopt more technology!
Have a server room in your office? You could be spending massive amounts to store data in-house by cooling the place down.
Take your computer operations to the cloud and get rid of unnecessary overhead charges.
Cloud computing sets up servers on the internet, instead of physically running a server room.
An Accenture study found that small businesses with just about 100 employees could cut emissions by 90% by adopting cloud computing.
Additionally, investing in a smart thermostat will help control office temperatures only during off-peak, keeping employees comfortable when peak usage rates apply.
Similarly, motion sensor enabled lighting can help curb lighting costs when nobody is around.
Alternately, if these upgrades seem a bit much, then switch to energy-efficient LED bulbs which are 90% more energy efficient than regular lights.
In case your business makes use of solar, don’t shy away from going for energy storage through solar batteries.
Significantly, battery storage could provide power when peak usage rates apply, potentially reducing a lot of costs for the enterprise.
Written by Alan Koshy
August 30, 2018