Your Business With James Caan 2017 - 14
It's time to
As a busy business owner, do you often pay your energy
bill without questioning whether you're paying too much?
The right advice could save you time and money
ot only can it be time consuming
to shop for energy prices, but
few of us truly understand
every term and tariff used or how much
energy we're using. So how do we know
if we're currently on the best contract?
For many, it's no longer just about finding
the lowest rate; it's about understanding how
the prices shown on the bill relate to the energy
market as whole, and looking into bigger
solutions that will make a positive effect to our
energy price in the long term. Without knowing
the answers to these fundamental questions,
you'll definitely be overpaying somewhere.
Here are just a few of the questions
you should start asking today.
can help you
cut your bills
Where do I start?
First, make time to review your energy bill.
It can be a minefield, with so many different
components and terms it's hard to know what
they all mean. Don't get caught out by jargon
- for a quick explanation of some popular
terms you may see, see the illustration, right.
Why are prices changing?
Numerous factors can affect delivered
energy prices, from weather temperatures
to gas demand in other countries. One of
the most recent implications has been the
poor performance of the pound since the EU
referendum. This has increased import costs of
gas, coal, uranium and electricity, which is why
you may have noticed your bills going up.
How much energy am I using?
Conduct an energy audit of your office. If you
don't have a facilities department that can
Understanding your bills can
help you to save money
do this for you, simply walk around making a
note of how much equipment is on yet not
being used or is often left on overnight.
Simple changes in habit can positively
affect your usage and, consequently, your
energy price over time. There are also
online energy monitoring services that can
track, monitor and report your usage daily
to give you an insight into wastage and
highlight areas you need to improve.
"Having used Lumina Energy a second
time to review an annual contract, I remain
very satisfied," says Estie Wilson of Home
Group, in St Leonards-on-Sea, East Sussex.
"The service provided is very thorough, the
consultant I worked with was polite, courteous
and knowledgeable, while gaining a full
understanding of requirements and adapting
searches accordingly. Any questions were
answered promptly, often suggesting creative