The following is a guest post.
Just like at home, managing your business consumption of electricity is an effective way to save money, budget wisely and have more money to spend on the things which really matter. There are a number of different UK business electricity suppliers so it is vital that you are with the right one for your needs. Shop around and see what tariffs are available to you.
Most suppliers offer a wide range of business electricity rates and tariffs to suit you and your business, no matter how small or large your operation. If your annual electricity bill is over £30,000 you are obliged to have a half hourly meter installed to monitor your energy uses. These meters are designed to help you keep track of your energy uses so they allow you to look for cost-saving measures, improving your green credentials and your profit margins. You will be able to see peak usage times, where electricity is being used and which devices are consuming the most energy. By acting on this information, businesses can expect to dramatically cut their outgoings.
The installation of an energy meter allows you to see all where efficiencies can be made and allows your business gas or electricity supplier to ensure that you’re on the right tariff for your consumption levels. You may find that your bills are dramatically reduced after only a few months with your new meter.
According to British Gas Business, their smart meters work by transmitting a signal, in the same way a mobile phone does, automatically sending your supplier your meter reading. This means you only pay for the electricity you actually use because your energy supplier can get an accurate meter reading from your smart meter*.
Under government legislation, all businesses, regardless of size, must have a smart meter fitted by 2019. However, smaller businesses can choose to have a meter installed now, allowing them similar benefit to those currently experiences by larger organisations. Talk to your business energy supplier about whether this is the right choice for you and whether it may allow you to cut your costs. If you are just starting out, metering is a great way to plan your budget – within just a few months you’ll know exactly what to expect from your bills and be able to plan accordingly. The meter will be installed for free, so you can look forward to seeing savings within a few months of installation, compared to estimated billing.
In Oklahoma, our provider OG&E offers a "Smart Hours" program. You receive a free $300 programmable thermostat, and weekly updates via email with your daily consumption charted. They only ask that you keep your consumption down during peak hours which are betweeen 2-7pm, Monday through Friday, when prices are the highest. Average savings is about $200 per home, quarterly. If you are proactive and ask your utility providers if they have specials or programs in place for savings, you will be surprised how many of them do.
That's kind of awesome! Personally, I'm lusting over the Nest thermostat, but I can't justify the price right now. I'll wait until they're cheaper. Unfortunately my utility company doesn't offer ANYTHING cool to help with usage, but I know many providers do.