Do You Have an Energy Management Strategy?

Many companies are implementing energy management strategies as the economy is continuing to remain uncertain. According to a recent survey by Deloitte 90% of the companies asked have applied a strategy of this nature. These energy management goals cover electricity, natural gas and other natural resources. How can your company be competitive when it comes to an energy plan? Here are several steps to developing your energy management strategy.

  1. Comparison shop. Frequently energy companies offer rates based on average consumption. Call your energy company to get rates based on your usage. If you are in a state where power is deregulated call the competing companies and get the best rates available for your business.
  2. Learn about “demand response” programs in your area. Energy companies sometimes offer a way to curtail consumption based on your own flexibility. Contact your power company to find out more about it. Typically you agree to reduce your consumption up to a set number of days per year and in return you are eligible for energy discounts. These programs are usually determined in advance of the need so even if the energy outage does not happen you may still be eligible for the rebate.
  3. Make improvements. Did you know you could decrease your consumption by 10 to 20% by making a few upgrades to your current systems? You may be able to qualify for a local grant to make improvements. This may involve an initial investment but the dividends will pay off. Talk to energy consultants to get an idea of what kinds of changes you can make. In an industrial facility these are often associated with the lighting, compressed air systems, and the motors on the machines and equipment.
  4. Spend or save? The economy is still in flux so now is the time to make this big change. Each day that your company does not make adjustments in the energy consumption you may be spending more money than you need to. Taking care of variable expenses, such as your energy costs, is one way to improve your overall financial outlook for the future regardless of economic recovery.

Are you thinking of making changes to your facility’s energy systems? Contact the professionals at Luttrell Staffing Group to find out more tips to improve your business.