WATCH LIAM'S TIPS FOR MANAGING ENERGY COSTS FOR MANUFACTURERS
It’s no secret that the energy market has reached new heights recently, with many commercial properties reporting a 100% increase in their energy costs. This has been a result of a record increase in global gas prices, which has seen an energy price cap rise of 54%. Patrons of Made in Group and experts in the energy market, Control Energy Costs (CEC), have shared some invaluable insights into how businesses can manage their costs regardless of the current market conditions.
Patron of the Made in Group for the past six years, CEC works with around 150 members within the group. Liam Conway, Head of Business Development, has put together a video on 5 actionable tips on how businesses can ‘handle the heat’ when it comes to rising energy costs.
1. Be Proactive - don't bury your head in the sand and move it further down the to do list. This can cost significantly if it is left for later.
2. Know your figures - Understand the potential financial impact ahead of time, essentially reilitirating tip one - act now. Liam says “businesses that have been hit the hardest are those who haven't acted and therefore have become unaware of the rises. The more you know and the sooner you know, the better.”
3. If you are not buying flexibly, you would be wise to explore it now - Traditional fix contracts are no longer as appropriate as they once were for clients. Flexible deals however have a more strategic approach to risk and market conditions.
4. Explore the Made in Energy Club - Created by a Made in Group patron for members. The club was created to pool members' energy to access the wholesale energy market, giving you greater potential for reducing costs. It's also comforting to know that you are making the same energy decisions as others within the group.
5. Manage Consumption - Work with a partner who manages consumption, reports this and helps you drive it down. Control Energy Costs, for example, work with clients to help them start out on their net-zero journey. Liam says, “given the cost of energy, starting your journey to a carbon free future has never been more important.”
Find more about CEC by heading to their microsite here. To see how they can help, contact Liam on 07501 221728 or at [email protected].
WATCH LIAM'S TIPS FOR MANAGING ENERGY COSTS FOR MANUFACTURERS