The UK government recently introduced a new Energy Bill Discount Scheme which is widely available to all business energy consumers. The scheme initially appears to be beneficial, however, the support on offer will only provide minimal protection against fluctuating energy bills.

Businesses must therefore be proactive in their approach to solving their issues with energy bills, by researching options and finding the best solution for their needs. From exploring renewable sources of power to negotiating contracts with suppliers, there is a range of strategies that can reduce business energy costs and propel growth.

Energy Bill Discount Scheme

The Energy Bill Discount Scheme (EBDS) is set to become the new support businesses can receive starting April 1st, 2023. This scheme will grant a discount on the wholesale element of energy bills and requires customers to have signed their contracts after December 1st 2021 in order to qualify. Unlike the EBRS, this new support comes without the price caps that provided much greater protection for non-domestic customers. Although there will be some new savings from this scheme, it provides far less protection than what had previously been available.

The EBDS will also only be applied to energy contracts once they have gone over a certain price which is outlined below:

• For electricity if the wholesale portion of the bill rises over 30.2p/kWh then a maximum of 1.96p/kWh discount.
• For gas if the wholesale price rises over 10.7p/kWh then a maximum discount of 0.697p/kWh will be applied.

Lower gas prices won't last

The gas market has taken a hit recently due to the mild weather conditions this winter, however, this is likely to rise again throughout the year mainly as competition is likely to grow for LNG contracts ow and the EU have to replace a lot of their gas exports from Russia who have been throttling supplies since their invasion on Ukraine last year.

Businesses should take advantage of this lull in activity and make sure their energy consumption is under control now, before prices increase again. Not only will businesses be protecting themselves from future economic shocks, but they could also end up with huge savings that some may not be expecting.

How lowering energy consumption is going to help your business right now

With upcoming energy support reductions, businesses of all sizes are now turning to new strategies to reduce their energy bills. Long-term sustainability is the key to success in this complex economic landscape, and your business can be prepared by proactively lowering your energy consumption now.

With the rapid changes in the energy market, businesses should take immediate steps to ensure their consumption is under control. Recent years have seen government support for renewable sources and a decrease in energy prices, however, no guarantee can be made that such favorable conditions will continue.

Therefore, the smart move for any business would be to assess their energy usage habits now, and put strategies in place to reduce consumption while they still have time on their side. With proper planning and some frugality now, businesses can shield themselves from any possible energy price hikes in the coming months or years.

Different ways your business can lower energy consumption

Renewable technologies

Voltage Optimisation is an ideal way to reduce energy consumption costs and increase sustainability in a business. All electrical equipment that runs on a mains power connection requires only a certain level of voltage in order to work properly, yet the mains supply voltage in much higher levels than is actually necessary. As a result, power is being wasted as businesses pay for volts that are not even required. Thankfully, with the help of a voltage optimiser, businesses can dramatically reduce their energy consumption by utilizing all available volts and sending back any unused volts to the grid. This has been known to save businesses up to 19% on their bills and allow them to contribute towards moving towards greener forms of energy by preserving precious resources through conservation. Find out more about voltage Optimisation here.

Solar panels have become an increasingly attractive option for businesses looking to save money on energy costs and become less reliant on the traditional electrical grid. Not only do solar panels help businesses generate their own energy free of resources, but they also provide an environmentally friendly solution that helps reduce the amount of electricity needed from the grid. As the technology continues to improve, so does the price-to-benefit ratio for businesses considering switching to solar energy. With remote monitoring and control capabilities, businesses find it easier than ever to maintain their own clean power source and keep their operational costs down. See more about solar pannles here. 

Energy efficiency

Introducing energy-efficient practices in the workplace can help businesses drastically reduce their energy consumption and save on monthly energy bills. These practices include installing eco-friendly appliances, replacing outdated technology with higher-efficiency variations, reducing standby power draws from equipment not in use, becoming more conscious of how often lights are used, and encouraging employees to make aware decisions that impact electricity usage.

With simple changes, businesses large and small can gain a foothold on their bottom line by cutting back on how much electricity they purchase each month. Additionally, by embracing new ways to conserve energy in its operations, the company will make a positive impact both financially and environmentally.

At Resolve Net Zero we have a wide range of services that can help your business to reduce energy consumption and make a huge saving on your energy bills. See more of our services here today. If you would like to speak to one of our environmental consultants about getting your energy consumption reduced, then contact us here.

If you're ready to improve your energy efficiency whilst driving down energy bills then why not get in touch? With our carbon management plans we will give your business everything it needs to reduce consumption and maximise on savings. . Request a free quote now and start reducing your carbon footprint and energy bills today.