How will a 10% reduction in utility costs impact your business profitability?
Why?
Obtaining the lowest possible rates is obvious to minimise utility spend, however, once supply contracts are secured and rates sealed many businesses take no further action to reduce utility costs.
Having access to simple, tangible and measurable data allows businesses to view consumption patterns throughout portfolios and identify cost saving opportunities. From ensuring your available capacity is set to the correct levels to identifying utility waste, data is key to understand, control and reduce your business utility spend.
How?
Understanding when, where and how your business consumes utilities is a very cost effective and time effective solution to identify business savings.
Businesses with half hourly electricity meters should already have access to free software providing visibility of day plus one consumption. Similar hardware and software are available for gas, water and small non-half hourly meters, the cost for installation of the hardware is minimal.
Below is an illustrative example of a daily usage and time of day consumption profile, businesses are able to use this data to highlight spikes and look for opportunities to reduce consumption during peak cost periods (typically weekdays between 4pm and 7pm).
Businesses can also install sub-meters at machine and building area level, this allows engineers to deep dive and highlight precisely where any unexpected increase in usage occurs on site and mitigate any waste.
The cost to install sub-metering is minimal and payback periods tend to be months rather than years.
For further information on how to control utility consumption please contact hello@gleg.co.uk
Chris Haines
Consultant, GLEG