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Friday, 1 November 2019

How to Save Money on Your Business’ Utility Bills

Kelly Ivison, Managing Director of Exchange Utility, outlines how SMEs can save money on their business utility bills

BY KELLY IVISON
The biggest obstacle to most businesses’ success is covering their overheads. Whether you’re a startup or an established business, it's likely you're familiar with bills of all sorts eating away into your company’s hard-earned revenue. 
But there are ways to reduce how much you pay so that you can free up much-needed cash for investing in new avenues, rewarding hard-working staff and generally growing your business. Here are a few quick ways to decrease your business’ monthly utility bills:    
How to Save Money on Your Business’ Utility Bills

Smart plugs

Connecting your electrical devices to smart plugs allows you to be in control of your consumption by turning off the power when the electrical appliance is not in use. Using electricity more efficiently will allow you to cut down on wasted electricity and bring down your energy bill.

Timers and power fobs

Timers and fobs are similar to smart plugs as they can be installed in rooms that are often unoccupied, such as bathrooms, meeting rooms and boardrooms. The idea is that when the room is not in use, non-essential power is switched off.

LED lights

LEDs are more efficient than the fluorescent light bulbs that dominate offices all over the UK, so it may be worth considering switching over to LED alternatives. While the power consumption of T8-type tubes (the most common fluorescent light tubes) is only slightly higher than what a LED tube uses, fluorescent lights waste energy in their ballasts. This is typically about as much as the tube uses itself, which doubles the total energy consumption. 

Solar power

If you’re serious about reducing your company’s electricity bill, investing in photovoltaic panels is a wise long-term move. Solar panels take part of your energy consumption off the grid, so you’ll be saving on what your energy supplier would charge you for the same amount. 

Efficient heating fuel

If you are responsible for heating within your office space, you’ll most probably already rely on fuel such as red diesel to heat your premises, which is cheaper than gas and burns cleanly and efficiently. 

Switch energy provider

According to the industry regulator Ofgem’s 2018 report, businesses are simply being overcharged for their energy - with microbusinesses overpaying by as much as 27 percent and either remaining unaware of this, or not wanting to go through the hassle of changing supplier. The reality is, switching to a supplier that is right for you ensures you are paying the best tariff for your business, which translates into extra savings. 

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