As a business owner, your profit margin is vital, and your electricity bill is a variable cost that is hard to reduce. You can’t just shut off power and still do business, so learning about factors that contribute to costs rising is an important step. Below are three of the main factors that will affect your energy costs;
There are many suppliers within the energy market, and each one will have different tariffs, determined by their rates and terms and conditions. Consequently, it is vitally important for business owners to compare these different rates – both unit rate and standing charge – in order to reduce their electricity bill. As there are many suppliers across the energy market, it may be beneficial to seek the help of a utility specialist who can provide you with independent advice.
Another variable some businesses simply cannot change is where they operate from. If your business is located in an area where taxes, consumption rates and operational costs are higher, this is going to equate to a higher bill. Unfortunately, it is not only your electricity bill that will be affected, but also your gas and other fuel sources your company might use. Location is one of the hidden costs many business owners face, and unfortunately one that many cannot control.
The winter season is typically when energy costs are at their highest – both commercially and residentially. The simple fact being that you are using more energy during these months, and demand is higher, causing usage rates (the rate suppliers charge per unit of energy) to typically rise. Additionally with the arrival of winter, the days will not only become colder, they will grow darker and shorter too. As a result, lighting the workplace will become a necessity, which will mean increased usage and a higher electricity bill.
Of course there are other factors which will determine electricity costs, such as the size of your business, the number of employees and the size of your facilities, etc. Locality and season are two of the leading factors which will cause an increase in your rates, and are factors you simply cannot control. You can, however, reduce operational cost by seeking the help of a utility specialist who can help you conduct a full energy market comparison and switch your electricity tariff to one that best suits your needs.
At U4L we have a team of specialists who can handle the entire switching process for you. They are experts in the field and know where to look to find the most current tariffs, at the best rates, which are perfectly suited to your business’s needs.
If you are interested in switching or renewing your business energy contract today click here or call us on 01202 800 200. We’re based in Bournemouth, and are happy to arrange a face to face appointments if clients would prefer.