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Understanding Your Energy Bills: Tips for Your Business

May 19, 2023

As a business, understanding your energy bills is an important part of managing your business costs. Energy bills can often be confusing, with many different charges and tariffs to navigate. In this blog, we’ll explore some tips to help you better understand your energy bills.

Know your way around your bill
Here’s our energy consultant, Danielle Quinnin, talking you through the different elements of your energy bill in our short video.

Know your tariff

Your tariff is the type of energy plan you are on, and it will affect the price you pay for your energy. There are many different tariffs available, each with its own advantages and disadvantages. For example, fixed-rate tariffs offer a set price for a fixed period of time, while variable-rate tariffs can change depending on the market price of energy. Make sure you understand which tariff you are on and how it affects your energy bills.

Understand your consumption

The amount of energy you use is another important factor in understanding your energy bills. Your energy consumption is measured in kilowatt-hours (kWh), and the more energy you use, the more you will pay. You can monitor your energy consumption by looking at your meter readings, which should be taken regularly. By understanding your consumption, you can identify areas where you may be using too much energy and take steps to reduce your usage.

Be aware of additional charges

Energy bills can often include additional charges, such as standing charges and unit rates. Standing charges are a fixed daily charge that covers the cost of supplying energy to your premises, regardless of how much energy you use. Unit rates are the price you pay for each unit of energy you use. Make sure you understand these charges and how they affect your overall energy costs.

Consider renewable energy options

Renewable energy options, such as solar panels or wind turbines, can help you reduce your energy bills and your carbon footprint. While there may be an initial cost to install these systems, they can provide significant savings in the long run. Additionally, some energy suppliers offer renewable energy tariffs, which can be a good option for businesses that want to support sustainable energy sources.

Shop around for the best deal

One of the most effective ways to reduce your energy bills is to shop around for a better deal. There are many energy suppliers in the UK, each offering different tariffs and rates. By comparing prices and switching to a new supplier, you could save a significant amount of money on your energy bills. However, make sure you read the small print and understand any terms and conditions before switching suppliers. We can help you navigate this by searching the market for you across our network of trusted suppliers, saving you time and effort. If you’d like to find out more please get in touch.

Take advantage of energy efficiency schemes

Finally, there are many energy efficiency schemes available that can help you reduce your energy usage and save money on your bills. These schemes may include grants for energy-saving equipment or advice on how to make your premises more energy-efficient. Check with your energy supplier or the government website to see what schemes are available for you.

If you need any help with your current energy contracts and bills, please get in touch with our team, who will be happy to help you break things down, discuss energy efficiency options and more.