Turn on the Savings: Three Strategies for up to 30% Lower Electricity Bills

Supplier Diversification: 5-15% Impact

One effective strategy is diversifying energy suppliers.

Traditionally, many companies rely on large, incumbent utilities for their electricity needs. However, by opting for smaller, B2B-centric energy suppliers, businesses can typically access more competitive rates. This approach not only lowers costs but also offers the potential to simplify contract structure and terms.

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Better Forecasting: 2-5% Additional Impact

Another strategy is achieving more accurate demand forecasting.

By utilizing their own operational data, companies can typically predict their energy needs more precisely and manage risks associated with profile and imbalance costs more cost-efficiently than their utilities.

Incorporating these insights into energy forecasting allows companies to anticipate fluctuations in demand.

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Demand-Side Flexibility: 10-30% Additional Impact

The most powerful strategy for reducing electricity costs is today’s and tomorrow’s energy market is developing demand-side flexibility. By adjusting energy consumption in response to market price signals, businesses can take advantage of price arbitrage opportunities. This involves shifting usage to times when electricity is cheaper and reducing consumption during periods with high pricing.

Flexibility can have the biggest impact, but there's a catch! You need a supporting energy contract mix and forecasting capability to truly benefit from price fluctuations. Without these, the potential savings from flexibility can’t be fully realized.

This is exactly what we focus on with our Companion.energy software product, we support industrial energy consumers in unlocking their flexibility potential.

Conclusion

Businesses can significantly benefit from future proofing their energy management capabilities. By diversifying suppliers, utilizing data-driven forecasting, and developing demand-side flexibility, companies can achieve impressive reductions in electricity costs.

These strategies, validated by multiple case studies of companies deploying our software, offer a roadmap for substantial savings and enhanced operational efficiency.

Adopting these practices not only reduces expenses but also positions companies as leaders in energy sustainability and innovation. Unlock your savings potential and stay ahead in the competitive landscape.

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