Why an Energy Management Strategy Should Be a Goal for 2021
For many of you, an energy strategy that makes sense, saves you time and money, and increases efficiencies and sustainability is already on your short list of 2021 goals, whether that means re-tuning your current strategy or building one from the ground up. But let’s take a closer look at the core motivators in securing smarter energy solutions in 2021.
It Starts with YOU - Set a Goal to Make an Energy Management Strategy a Priority
Energy is among one of the biggest cost factors of a business, large or small, but ironically enough it’s also one that isn’t always a top priority. Re-prioritizing how your organization approaches energy management and spend is the first step, but how do you move from talking about energy strategy to executing on smarter strategies?
Start by exploring your current energy costs, demand, objectives and issues so that you can make informed decisions about how to move forward. No two businesses are the same, and no two strategies are alike either, which is why a customized solution led by experts in the field is key to managing your energy needs.
Create Budget Certainty on the Procurement Process
Did you know...Business executives in deregulated energy markets have the flexibility to create energy management strategies that align with corporate goals, budgets, and fiscal calendars?
An integral component of an energy management strategy is to seek consultation regarding market timing, the procurement process, and suppliers and their contracts. Business executives that are proactive have a competitive advantage when addressing their energy supply needs. They are positioned to make more fully informed decisions that decrease costs and provide improved budget planning and forecasting.
A core component of risk management is mitigating exposure to volatile energy prices that can cause budget uncertainty and operating cost increases. Effectively managing energy supply contracts yields substantial cost reductions and improved business performance.
Pro Tip: Act sooner rather than later. A common misconception is on the timing of when energy supply agreements can be executed. Many executives believe they must wait until just before their current contract expires to decide what to do next. They are not aware they can begin the process much earlier, in fact, at any time during their current contract term without negotiating or harming their current contract.
Favorable electricity price trends also greatly determine when executives evaluate prices and suppliers, as well as when to go the route of a consultant. The question is, do you have adequate time and knowledge to track energy price trends and compare suppliers? For a business that consumes one million kilowatt hours of electricity annually, the cost difference between supplier price quotes could be several thousand dollars annually.
Next Steps for a Brighter 2021
First things first, don’t get overwhelmed. If energy isn’t your area of expertise, that stands to reason! Start with a complimentary assessment from one of our Energy Consultants. Independent, unbiased, and data-driven, you can rest assured that our clients’ interests are our top priority. Our team will conduct an energy assessment and present solutions to reduce energy costs, reduce demand, and improve resiliency and sustainability to provide significant and ongoing savings.
For more information, or to receive a complimentary assessment, contact our team at email@example.com, chat with us here, or give us a call at 800-520-6685.