5 steps for saving money on small business energy rates

posted by 5 years ago in Tips

We may have enjoyed an autumn sunny snap but small business bosses will soon be counting the cost of the nights drawing in as we approach the winter months. An investigation into the energy market by the Competition and Markets Authority last year revealed the Big Six were overcharging SMEs by £500 million.

So how can you save money on small business energy rates? Here are 5 easy steps…

#1 Compare energy suppliers – you could save money!

There are big financial savings to be made for small businesses owners who switch their gas and electricity suppliers to access a better tariff. Whilst it might sound like a headache it’s a fairly quick and easy process to compare business energy prices if done through a reputable broker. The average company could potentially save up to £1000 a year off their bill.

#2 Flick the switch

Turning off lights in spaces when they’re not in use can actually save small businesses over £100 a year. A polite reminder for staff to ‘turn off the lights’ when they leave in the evening could save you cash. On the topic of lights why not change to energy efficient ones such as LED light bulbs rather than halogen or fluorescent light sources?

#3 Chill out

Heating and lighting are prime culprits when it comes to swallowing up energy. Ensure that your heating and air conditioning aren’t set to the same temperature and on at the same time. The settings on the two systems should be around four degrees apart. Thermal tape can be used to draft proof single-glazed windows and door frames. Thermostats should be set lower in corridors and store rooms than in offices. You should check the layout of your workspace to make sure radiators aren’t being blocked by furniture. Moving a few desks or a filing cabinet could really help.

#4 Clean up your act

Keeping the staff kitchen clean can do more than just prevent germs spreading and banish foul smells – it could actually save you money too! Clean appliances are more energy efficient especially when the build-up of dust is removed from behind fridges. Pulling the fridge out and cleaning off any dust could save you up to a fifth of the energy used by the fridge. It’s also worth bleeding radiators and dusting off light bulbs.

#5 Energy proof your technology

Switching off any unused mobile phone chargers and turning off your GPS and Bluetooth when they’re not needed can help you make small savings. This will save you money and become a habit very quickly. Reducing the time saving delay on your computers can also stop the costs from ramping up. 46 per cent of electricity used in offices, for example, is outside of standard operating hours so make sure that monitors, copiers, printers and vending machines are off.