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 energy rates combined with more efficient energy use through energy 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 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 organizations are not regularly monitoring what they are paying now and comparing it to new energy rates and plans, they 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 businesses optimize energy spend by ensuring they 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 risk tolerance to protect a business from market fluctuations in regulated markets and optimize their energy procurement strategy.
Managing energy spend across multiple markets relies heavily on understanding 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 Impact’s comprehensive Energy Rates Monitoring & Optimization evaluates and recommends regulated rate alternatives on a site-by-site basis. Compare actual utilization against proprietary energy models results in the best choices in regulated rate plans so clients can reduce costs on an ongoing basis. With client permission, ENGIE Impact makes the change requests to utility providers and provides savings and progress reporting for a clear view of the program’s results.
A successful energy procurement strategy cannot follow a linear process, but instead must be optimized over time. So, ENGIE Impact's team of procurement advisers is constantly monitoring markets and identifying and evaluating new opportunities to improve clients' programs.
We feel confident knowing that ENGIE Impact’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 Impact’s Energy Monitoring and Optimization Services gives organizations the right level of actionable detail to proactively and cost-effectively manage the terms of energy contracts, resulting in reduced budget volatility, better cost saving opportunities, and a more disciplined approach to energy supply management.