Reducing Business Energy Costs: Price and Usage Strategies

What are the two primary ways businesses can reduce their energy costs, according to the source?

The two main approaches to reducing business energy costs are (1) reducing energy prices and (2) reducing energy usage.

How does the source suggest businesses can effectively reduce their energy prices, particularly those with multiple locations?

The source recommends an optimized approach using a progressive procurement strategy. This involves taking advantage of the best prices available in the market for both small and large market meters and avoiding reliance on a single energy retailer for an entire portfolio over extended periods due to fluctuating market competitiveness for different meter types and regions.

What is Termina's role in helping businesses reduce their energy prices?

Termina automates the process of optimizing a business's energy portfolio by identifying and securing the best prices in the market for various meter types and locations. Their progressive procurement strategy aims to capitalize on price decreases while providing protection during upward market trends. Their saving-split model aligns their incentives with the client's savings.

Aside from negotiating better prices, what is the other key area businesses should focus on to lower energy expenses?

The second crucial area is reducing energy usage within the business's operations.

How has reducing energy usage traditionally been approached, and what does the source suggest as a more modern alternative?

Historically, reducing energy usage involved installing expensive hardware with timers or conducting costly energy audits. The source proposes a more streamlined approach using Termina to calculate the exact running costs of equipment without requiring new hardware. This allows businesses to identify high-cost equipment and locations to target for usage reduction.

What kind of data and insights does Termina provide to help businesses manage their energy usage?

Termina provides data that allows businesses to calculate the running costs of their equipment and identify which equipment contributes most to their energy consumption. It also enables businesses to compare energy costs across different locations, facilitating better energy management decisions.

What does the source emphasize as a significant benefit of addressing business energy costs?

The source highlights that reducing business energy costs is often the highest leverage variable cost reduction that a business can achieve.

What is the stated cost for businesses to explore how Termina can assist with reducing their energy costs?

The source explicitly states that it is free to try both strategies (reducing energy prices and reducing energy usage) with Termina.