23 Aug
Why You Should Review Your Business Energy Supply Each Year
Posted on Aug 23, 2023
by D-ENERGi
As a business owner, you have countless responsibilities and important tasks to prioritise. It’s little surprise that often, reviewing your company’s energy supply may be low on your to-do list. However, just like personal finances or taxes, reviewing your business energy supply each year is vital for your bottom line. Although you may not be looking to change energy suppliers, it is always worth taking a look at current rates and tariffs and identifying areas where you could be saving your business money. With this in mind, here’s why you should review your business energy supply each year.
Identify Cost Savings
Reviewing your business energy supply can help you identify where you are overspending and therefore provide opportunities for cost savings. For example, a business might notice that its heating or air conditioning usage spikes during certain times of the day. By analysing this information, business owners and managers can potentially adjust the company’s schedule to reduce energy usage during peak times, without sacrificing comfort or productivity. You may also notice that your current energy supplier is overcharging you, or there are better rates out there. Annual reviews of your energy usage and payments provides the perfect opportunity to consider changing suppliers.
Choosing the Right Plan
Businesses can find themselves stuck with the wrong energy plan or supplier if they never review their options. Energy plans and rates can frequently change over time with the addition of new products or if there are changes in company energy usage patterns. You may find that by shopping around, you can find a better plan or provider that saves you money and better suits your business needs. It is worth speaking with your energy supplier if you do notice any changes or better deals as they can often provide solutions to help mitigate any issues with your current energy tariff or deal. If you are a D-ENERGi business energy customer and would like to discuss your current tariff, contact our team here.
Environmental Benefits
Apart from savings for your business, reviewing your energy supply each year can also help you evaluate your carbon footprint and contribute to helping the environment. With sustainable energy sources becoming more accessible and popular, reviewing your options with an energy provider that focuses on renewable energy can be a smart decision for your company. You may also find it is the right time to make the switch to a smart business energy meter. Which will allow you greater opportunity to review your usage and spending in real time.
Making a Compelling Case for Change
Convincing management of the need for change regarding energy usage or provider can be difficult without clear evidence and data on the impact of any potential changes. Reviewing your energy supplies each year allows you to keep reports and comparative data, which can be used when you need to show relevant decision-makers what can be done to optimise efficiencies in your business. Having the data to back up your argument is the best way to win over your management team.
In conclusion, reviewing your energy supply each year is vital to ensuring your business is running efficiently and at a cost-effective rate. It can bring many benefits and potentially save your company money. Given the benefits and potential savings, reviewing your business energy supplies should not be neglected on your to-do list.
What is P272? P27what? You aren’t alone in the dark about P272. P272 is regarded as one of the biggest shakeups to the business electricity market since deregulation. Sounds more like a character out of star wars, but here are some facts on P272, which we have put together hopefully jargon free. If you unsure on how P272 affects your business please do not hesitate to contact us for free on 0800 781 7626, we will be delighted to help you further. You may also like to view our infographic and visit our support page dedicated to the P272 OFGEM legislation.
The Facts – What Is P272
P272 is a new regulation which has been implemented by OFGEM. It affects the way suppliers settle electricity consumption for businesses with a specified energy use. Resulting in sites being changed to half hourly.
Remember, remember the 5th November… “Guy Fawkes?”. No, no… this is when the P272 migration began! The deadline for all sites to be settled to Half-Hourly is 1st April 2017. Don’t be fooled by the date, it really is 1st April! Also, don’t be put off by the 2017 threat – it’ll be here before you know it!
The settlement is being put in place in order for suppliers to balance the amount of energy being purchased from the Generators. The aim for P272 is to make the readings more accurate via the half hourly consumption. This will provide distributors with more understanding on electricity use. This results in networks ensuring they are sufficiently developed and maintained.
Ultimately, P272 helps you and your business manage and also use the energy smartly. It gives you the opportunity to see where and when you are consuming energy. Also, a more accurate settlement which could lead to better tariff rates… something nobody would say no to, agreed?
Now you (hopefully) have a little more understanding of P272 here is how to prepare:
Learn if your portfolio is affected.
Speak to your supplier, they will be more than happy to explore your options with you.
Select your Half-Hourly Meter and Data Collector.
If your business has a maximum demand electricity supply categorised by profile classes:
05 06 07 08
And you have an Automated Meter Reading meter of which is capable of HH data collection and remote programming. Just to let you know… 160,000 sites are affected so it is definitely worth double, maybe even triple checking!
“How do I check?!” I hear you say? Simple… you just check the S number at the top of your electricity bill to find out your sites profile class.
Believe it or not, P272 can be very beneficial for you and here’s why:
You receive accurate billing
It offers you the ability to avoid peak times of electricity use
It gives you an insight on your energy usage
It allows you to make room for an opportunity of improvement and efficiency
REMEMBER…
This is an OFGEM regulation affecting ALL maximum demand meters and ALL electricity suppliers equally. If you’re being advised P272 does not affect your business, please let us double check this for you.
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A Russian rocket blasted into space this month to investigate whether any methane gas is present on Mars, as part of the joint ExoMars project created by the European and Russian space agencies.
Methane is a gas created by living microbes, and if it were to be detected it would be a revelation in the space industry as it could prove that life exists or existed on the red planet, some 225 million kilometres away from the Earth (which is itself something of a shock, given that in 2003 Mars was a mere 56 million kms away).
We already know there is life-giving water on Mars. Just like the Earth it has ice caps, although the water they contain is more elusive. The American space agency NASA made a huge discovery in 2006 when it found there was water flowing through the planet in even the hottest months of the year, and that the ‘lines’ that appear on our satellite images of Mars are streaks of flowing salt water.
That’s when the questions ‘did life exist on Mars, and can we find out?’ really started to arise.
The ExoMars project involves sending up a Trace Gas Orbiter to sniff the Martian atmosphere for methane, and if the results are positive then this would establish that methane has been generated via geology or a biological process.
As part of the same mission, a stationary lander called Schiaparelli will test the technology for a subsequent mission – ExoMars 2018 – which will see a UK-built rover collect soil samples filled with water particles and drill below the planet’s surface to look for other signs of life. That’s when the search for Martian life will start in earnest.
These two projects combined will cost an eye-watering £900 million but isn’t it worth it for the chance to make one of the biggest discoveries of all time? What a time to be alive!
Planetary scientist Dr Peter Grindrod, from Birkbeck, University of London, who is funded by the UK Space Agency, certainly thinks so. “It’s incredibly exciting,” he enthused. “This is a series of missions that’s trying to address one of the fundamental questions in science: is there life anywhere else besides the Earth? Finding that life exists elsewhere in the solar system would be a huge discovery, so the evidence has to be strong. As they say, extraordinary claims require extraordinary evidence.”
Wouldn’t it be amazing to find out if there really is Life On Mars, or if there has been in the past. It’s astonishing to think there could be more than just us Earthlings in our solar system!
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