Tips to help SMEs streamline their energy accounts in pressing times.

With increasing fuel prices at the top of the daily news agenda, energy management and purchasing is quickly becoming a top priority for SMEs. What can businesses do to streamline their energy accounts in these pressing times?

1. Get smart, switch to new technology

Smart meters are one of the most innovative new tools in the electricity market. The meters store up to a year’s worth of half-hourly readings, which can then be made available to customers through a simple online format – eliminating the need for the customer taking meter readings and inconvenient supplier visits. Smart meters are a great first step towards streamlining your businesses energy consumption and procurement.

2. Monitor your consumption:

As well as calculating your bills accurately, smart meter readings can be used to show how much energy is used by a company premise at any point during the day or night. Research by the Carbon Trust suggests that a business monitoring its energy consumption pattern with smart meters could reduce its energy consumption by up to 12.3% a year. Use your meter readings to identify unnecessary power use, such as PCs being left on overnight.

3. Switch your tariff:

Work with your supplier to seek a tailored tariff, designed specifically to match your business’ energy consumption levels during the day. A business using power mainly overnight, such as a bakery or a pub, will need a different tariff to an office that operates solely during the day. As an example, we find that hospitality businesses can save up to 11% of their electricity costs simply by switching to a day / night tariff and taking advantage of cheaper price per unit costs in the evening.

4. Educate your employees:

According to research commissioned by Opus Energy earlier this year, over a third (36%) of UK workers are more likely to waste energy when in the workplace than at home. One in five workers admit to not taking any steps at all to save energy in the workplace, despite recycling and switching off lights and appliances to cut costs at home.

Working internally to raise energy saving awareness is key. Get your staff on board with the company’s drive to streamline energy usage and to help reduce costs. Start by asking employees to switch off their computer monitors at the end of the day and unplug phone chargers, which continue to draw electricity from the mains even when not in use.  

Companies should investigate the range of solutions offered by the electricity market to help mitigate the problem of increasing energy costs. The independent energy suppliers are often best placed and more willing to offer more tailored solutions than their larger competitors. Opus Energy currently offers free smart meters to all customers, which can be a vital first step towards streamlining energy overheads.