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3 Ways to Cope with Higher Commercial Energy Prices

Posted in
Date
09/05/2022
3 ways to cope with higher commercial energy prices

Like their domestic counterparts, commercial energy prices have shot up in recent months. Unfortunately, they don’t look set to come down any time soon – and could even continue to rise.

To deal with this ongoing price hike, companies need to find ways to counteract higher prices and cope with them moving forward. In this post, we’ll provide a little more detail on what’s gone wrong and some ways your company can cushion the blow.

Why won’t energy prices come back down?

First of all, we’re not being dramatic when we say high prices are here to stay. The issue has stemmed from a rise in wholesale gas prices, which started in late 2021. Since then, the UK Government has increased the energy price cap, which allows energy companies to charge more to make up for their own higher costs.

The root cause is a global shortage of gas and other fuel, which won’t be solved overnight. Over the coming months, it could even be made worse by the ongoing Russia-Ukraine conflict.

Because of the severity and longevity of the problem, it’s not as simple as switching suppliers to get a better deal. Thankfully, there are a few things you can do to keep costs down…

Ways to cope with higher commercial energy prices

1.    Auditing and monitoring

It’s hard to overstate the importance of auditing your energy efficiency and monitoring your energy usage. The Government has two schemes in place – namely ESOS and SECR – which require large undertakings to assess and report on their energy use.

Besides being a legal obligation, they can actually help you minimise your energy usage and costs. Rather than simply ticking boxes, we can deploy a cloud-based solution that continually gathers energy data, so you’re always on top of your usage and expenditure.

2.    Energy efficient appliances

Energy efficiency ratings are usually an afterthought when choosing appliances. But with prices at an all-time high, it’s time to start pushing them up the pecking order.

That could be A-rated refrigerators, a renewable heating system or efficient LED lighting. The up-front cost might be a little more, but you’ll definitely earn it back in savings over time.

3.    Keeping heat in

According to the HSE, employers are responsible for maintaining a reasonably comfortable temperature in working environments. That can come at a big cost when the temperatures plummet through the winter and the heating has to be cranked up.

While it’s most commonly installed on domestic properties, now is the time to consider commercial insulation as a way of minimising your energy usage and saving money in the long run.

Get the experts on your side

At Volta Compliance, we’ve worked with companies across Yorkshire to reduce their energy output and keep costs down. We’re ready and waiting to do the same for your business, whether it’s assistance with ESOS and SECR or the installation of energy-efficient LED lighting.

To find out more about how we can help you cope with higher commercial energy prices, contact us on [email protected] or call 0113 397 1361.

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Richard Carr Volta Compliance
Richard Carr
Managing Director
Richard is the Director of Volta Compliance. He is a fully qualified approved electrician graded with the JIB. Richard has over 20 years electrical experience working on commercial and industrial installations.