Covid-19 Update & the Energy Industry
COVID-19 has impacted nearly every aspect of life, including the energy industry. Utilities are struggling to recoup lost revenue and direct pandemic-related costs but have the benefit of regulator-approved rate increases. Competitive energy suppliers have no such recourse and at least one supplier has begun reviewing customers’ 2020 electricity usage as compared to their contracted volumes. In cases where there was a notable shortfall in usage, the supplier has begun collecting additional charges from affected customers to cover the difference.
Key Takeaway: Taking proactive measures to notify your supplier of significant changes in usage may help mitigate the impact to your organization.
For better context, ask yourself the following questions:
Since March 2020, was your organization forced to close for an extended period?
Were your hours of operation adjusted as a result of the pandemic?
Has the pandemic resulted in a variance in energy usage for your organization as compared to previous years?
Have you notified your supplier of these changes?
If you know there was a significant change in your organization's energy usage since March 2020, a safe course of action is to notify your supplier or reach out to your energy consultant to assist. Please do not hesitate to reach out if you have any questions. Our team is here to help as we continue to navigate through these unprecedented events. Our goal is to assist you in taking a proactive approach to mitigating any unwelcome changes or impacts to your bill, both in current and future contracts.