A survey conducted into the way businesses deal with their electricity costs recently revealed that many companies didn’t play close attention to the amount of money they spend on their monthly bills, despite huge levels of concern over rising prices. The survey, conducted by OnePoll, showed that 51% of businesses they spoke to were worried about the fact that electricity is becoming more expensive. However, less than 20% said that they handed over responsibility for monitoring electricity costs to their dedicated finance teams.
More worryingly, 14% said that no-one within their company had direct responsibility for seeing how much they spent every month on electricity. Despite the high levels of interest in tackling sky-high electricity bills and the fact that, for many companies large and small, energy costs are amongst their biggest overheads, ignorance over how much they spend on electricity could be partly to blame for any increase in the amount they spend. This is where looking in detail at bills and how they can be reduced can prove useful.
Experts believe that businesses of all sizes should treat their energy costs in the same way as they would with any other major business expense, looking at how much they spend each month, how much they can afford and whether that cost can be reduced in any way. According to the likes ofMake It Cheaper the businesses savings experts for electricity and gas bills, even in these troubled economic times; it’s possible to make savings. They explained why this is the case:
“The dual issues of electricity usage and rising costs are hugely important to all businesses. Not paying any attention to them could be costly, especially if staying with the same energy supplier. A better deal could be available with a new supplier, which could be the antidote to paying higher electricity prices after letting an existing contract roll over. Many of our customers are surprised when we tell them that switching to another electricity supplier when their current contract is due for renewal can save them money.”
Remaining vigilant about how much money is spent on electricity is just as important for businesses as doing so for any other expense. Turning a blind eye to monthly bills and not knowing when their energy contract is set to be renewed means that getting a better deal and spending less is going to be far tougher, whereas doing the opposite could save money and reduce waste.
This is a guest post