Reduce your utility bills
At Jones Peters we can provide businesses with help and advice on finance and on a wide range of business issues. Here is a checklist for reducing your utility bills…
Almost every business pays more than it needs to in utility bills. Conducting a utility audit might seem like a time consuming distraction but you could be pleasantly surprised by how much it adds to your bottom line.
Use the checklist below to identify potential savings for your business:
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| Have a member of staff responsible for checking all utility bills – Make sure they know how the bills are calculated, what tariffs are available, etc. |
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| Carry out your own readings of all energy and water meters each month – Use the information to plot patterns of use |
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| Check that all utility bills are accurate and that any estimates are reasonable – Even the largest utility companies make mistakes |
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| Annually review the tariffs you use – Not only do your usage patterns change, your suppliers also change the deals they offer |
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| Monitor overnight energy usage – Check if it is being used by essential equipment and if so that you have the best overnight tariff |
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| Make the best use of cheap rate electricity – If you can arrange usage by water heaters etc so that 15% of total electricity usage occurs during off–peak hours, you might benefit from switching to a day/night tariff |
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| If you are on a Maximum Demand tariff, review your supply capacity – If your declared supply capacity is more than 15% higher than your highest Maximum Demand, contact your supplier to have it lowered |
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| Find ways to reduce usage during peak hours – Try rescheduling non–essential loads |
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| If you are on a monthly tariff, check your power factor – Check that you are not being penalised for a poor power factor |
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| Shop around for a cheaper electricity and/or gas supplier |
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| If your site has more than one gas meter, make sure they are aggregated for billing purposes – This can reduce both standing and unit charges and could lead to a better rate |
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| Make sure your water meter is the right size – Standing charges are calculated according to meter size – don't pay for an unnecessarily large one |
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If you are looking for professional advice from an experienced team of accountants, contact Jones Peters.