Choose the right metre type
When it comes to reducing your business electricity prices per KWH, one of the most important decisions you'll make is what type of electric metre to install. Here are some things to consider:
- Custodial metre. This is the best choice for businesses that have a large number of employees and electric usage spikes infrequently. It's also a good option if you want to restrict access to your energy consumption data or use an electric proxy instead of installing a smart metre.
- Peak demand metre (also called "demand-response" or "demand-based"). These metres are installed at businesses with high peak electricity usage rates—for example, restaurants that operate 24 hours a day or office buildings with computer servers constantly running at full capacity during the day (and little activity overnight). They're more expensive than other types of metres, but they can help prevent service outages when demand peaks in your area by automatically turning off power during these times.
- Time-of-use metre (TOU). A TOU electric metre charges different rates depending on when you use electricity: more during peak hours, less during off-peak times such as weekends or overnight when there's less demand for power on the grid overall since there aren't many people awake or working yet! By changing your daily routines around these schedules, you could save money by using just enough energy at low cost rather than wasting any excess from expensive peak hours.
Negotiate your contract terms
There are a couple of different ways you can go about negotiating your contract with your utility provider. One is to request a fixed rate for the next set period of time, and then revert to a variable rate after that.
The other option is to get a variable rate for the next period and then revert back to being on a fixed rate after that. This type of arrangement has its own benefits: if you're not sure how high your energy costs will be during the first year, but know they'll probably go up significantly in subsequent years, then this method may be right for you. You'll have peace of mind knowing that you won't have any nasty surprises down the road when it comes time to pay bills!
Use your energy more efficiently
There are many ways to reduce the amount of power you use, and by doing so you'll help reduce your business electricity prices per kWh. Energy-efficient devices, light bulbs and appliances are a good place to start. For example:
- Use energy-saving light bulbs in place of regular ones - they last longer and use less power than standard incandescent lights.
- Purchase a programmable thermostat that can be set at lower temperatures while you're out of the office or sleeping at night, which will save money because it won't have to keep heating or to cool as much space unnecessarily when there's no one around.
- Make sure all electronic devices are turned off when not in use (including laptops) rather than left on standby mode; this will prevent unnecessary draw on the grid throughout the day as well as help them last longer between charges because they will only be powered when their functions need them powered up (if left idle for too long without being used).
Select the right tariff
Choosing the right tariff is key to reducing your business electricity prices per kWh.
The first step is to understand exactly what you need from a tariff and whether there are any terms and conditions that will affect your costs.
For example, if you're a large business, some tariffs could be more suitable than others because of the higher charges for peak periods and off-peak periods.
As another example, some businesses may not qualify for discounts but might want to compare them anyway so they can see how much they would save with a discount compared to standard rates.
Once you've decided on which type of tariff is best suited to your needs and understand all its terms and conditions, make sure that if there are any discounts available through this type of plan (and there usually are), then go ahead and apply them—after all, it's free money!
Get a gas and electricity bundle for your business
If you have a business that uses a lot of energy, signing up for a gas and electricity bundle could save you money.
When you sign up for this type of plan, your provider will calculate how much electricity and gas you use each year and charge you a fixed rate for it. It's important to remember that these plans don't work out perfectly for everyone: if your business uses more than expected in any given month, the difference will be charged at a higher retail rate.
On the other hand, if less electricity or gas is used than expected during any given billing period, there won't be any savings.
Navigating the world of business electricity can be confusing, but it doesn't have to be.
By following the tips in this guide, you'll be sure to find the best possible rate for your business and avoid any nasty surprises down the road when it comes time to pay bills!
If you're looking for ways to save money on your business electricity, then Compare Business Electricity is the place for you. We have all the information and tips you need to get a great deal on your energy bill. Plus, our team of experts are always here to help guide you through the process. Visit us today to get started!
