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.