Large or small, business cannot operate without energy for heating and cooling, lighting, and running equipment, so it’s no surprise that it’s ranked as one of the top three largest commercial business expenditures. However, energy is a controllable cost, and it begins with securing the best utility rates combined with more efficient energy use through utility rates monitoring and optimization. In regulated markets, large business energy users can optimize tariff options or take advantage of different time of use rates, demand generation programs, or energy efficiency rebates. With so many locations, vendors, suppliers and market fluctuations, monitoring utility energy rates to optimize energy spend is a daunting challenge for even the most seasoned energy manager.
In a world of comparison shopping, finding the best commercial energy rate structure is a concept that isn’t much different than getting the best rate for auto insurance or a home loan – it pays to compare energy prices. If you’re not regularly monitoring what your business is paying now and comparing it to new energy rates and plans, you could be missing enormous savings opportunities.
In regulated energy markets, businesses can structure natural gas and electric rate options to help meet cost reduction targets. Comparing energy prices can help your business optimize your energy spend by ensuring you are taking advantage of every savings opportunity.
Every company has different goals for energy cost savings, which they must balance with customer and stakeholder expectations around sustainability and reliability. This ‘formula’ establishes your risk tolerance to protect your business from market fluctuations in regulated markets and optimize your energy procurement strategy.
Managing energy spend across multiple markets relies heavily on understanding your corporate risk tolerance and balancing needs for budget certainty and cost reduction in the face of volatile energy markets. Keeping up with fast-moving markets requires close energy market analysis to capture opportunities and minimize risks.
ENGIE Insight’s comprehensive Utility Rates Monitoring & Optimization Services evaluate and recommends regulated rate alternatives on a site-by-site basis. We compare actual utilization against proprietary energy models, resulting in the best choices in regulated rate plans so clients can reduce costs on an ongoing basis. With client permission, ENGIE Insight makes the change requests to utility providers and provides savings and progress reporting for a clear view of the program’s results.
We recognize that a successful energy procurement strategy cannot follow a linear process, but instead must be optimized over time. So, your team of procurement advisers is constantly monitoring markets and identifying and evaluating new opportunities to improve your program.
“We feel confident knowing that ENGIE Insight’s team of sourcing experts will bring opportunities to us, and that the recommendations they are making are helping us to reduce costs and minimize risk. ” -Jeff Patton, Brookdale Senior Living
ENGIE Insight’s Utility Rates Monitoring and Optimization Services give you the right level of actionable detail to proactively and cost-effectively manage the terms of your energy contracts, resulting in reduced budget volatility, better cost saving opportunities, and a more disciplined approach to energy supply management. Contact us today to learn more.
Brookdale Senior Living
Energy Supply Management