Energy costs are having an increasing impact on businesses. Reducing costs and emissions is now a key focus for many organisations.
Businesses can achieve significant energy savings, enhance operational efficiency, and contribute to a greener future by combining approaches across:
- energy contract reviews
- consumption reduction strategies
- renewable energy transition roadmap development
- financial support exploration
We explore these areas in more detail here.
Energy contract reviews and market analysis
This is one of the initial quick wins when it comes to energy costs reduction. By assessing your energy contracts and analysing market trends, you can identify opportunities to renegotiate terms, secure better rates and explore alternative energy suppliers.
Through enhanced procurement processes, including strategic negotiations and leveraging market insights, you can achieve substantial reductions in energy costs in addition to your normal procurement processes, often exceeding 20%.
This proactive approach minimises expenditure but also provides financial stability and competitiveness in the market.
Reduction of energy consumption
Reducing energy consumption is a top priority for many businesses and can be achieved through adopting multiple energy optimisation principles, such as:
- addressing process energy inefficiencies
- implementing energy-efficient technologies
- establishing robust energy monitoring systems.
By identifying areas of inefficiency and implementing targeted reduction plans, you can significantly reduce energy losses with minimum investment, while also maintaining productivity and operational effectiveness.
Grant Thornton lead by example having implemented energy saving across our own business providing over £1 million pounds worth of saving across our energy.
Developing an energy transition roadmap
As the UK works towards its 2050 Net Zero target, this is driving momentum across renewable energy with businesses proactively looking at energy transition initiatives.
Developing a comprehensive roadmap is essential for integrating renewable energy sources, adopting efficient technologies and reducing carbon intensity. By aligning with sustainability goals and leveraging innovative solutions, you can enhance your business's energy resilience, reduce dependency on fossil fuels, and future-proof operations against market volatility and regulatory changes.
Embracing renewable energy not only mitigates environmental impact but also positions businesses as leaders in their respective industries. Many businesses fail to integrate these plans into their financial forecasts, however, which is critical to driving the plan forward. A well-developed energy transition plan will also support the exposure of a business to carbon tax.
Exploration of financial support opportunities
Navigating the complex landscape of funding and subsidies is critical for those looking at investing in energy and environmental-related projects. Getting support with eligibility reviews, application processes and securing financial backing can be pivotal.
Whether it's energy relief funding, feasibility studies, or capital expenditure support for Net Zero projects, accessing available funding streams can significantly alleviate financial barriers related to return on investments and accelerate the implementation of sustainable initiatives.
By unlocking financial incentives and leveraging strategic partnerships, you can open new opportunities for growth and innovation while advancing your sustainable growth.
How we can support you
Effective energy cost management and margin optimisation are integral components of any business practice. As a trusted environmental and energy consultant, we guide businesses through a more strategic approach aimed at cost management and margin optimisation, with a concentrated focus on energy resilience. Our role is not only to advise but also to empower businesses to embrace sustainability as a driver of long-term success and resilience through project implementation.
For further insight and guidance, contact Raj Kumar or Oliver Bridge.
