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Business Basics: The Real Cost Of Energy Consumption

Energy Consumption

The day-to-day pressures of running a business can often mean matters regarding energy consumption are pushed onto the back burner. Simply put, for many business owners, improving the allusive carbon footprint often falls quite low on the list of priorities.

That being said, with expert assistance behind you, enhanced energy efficiency can be achieved with nothing more than a phone call. After all, as society becomes progressively conscious of the implications of its ecological practices, opting to go green is becoming more and more important in the corporate sector.

The Realities Of SME Energy Consumption

According to a 2017 report compiled by The Federation of Small Businesses (FSB), 61 per cent of SMEs stated that energy was a significant cost to their business. In response, up to 40 per cent of the same businesses make small, but effective energy efficient measures, such as the installation of efficient lights and improved insulation.

Given that SMEs spend in the region of £15 billion a year on their energy supplies, it comes as no surprise that 78 percent do choose energy efficiency to help them save money. Yet, an impressive 70 per cent also invest in initiatives to protect the environment.

At a time when the consumer market has become increasingly concerned with our global carbon footprint, it makes good business sense to adopt eco-friendly operations into your company. Now, more than ever, businesses must take responsibility for energy consumption. It is likely to benefit your books as well as the environment.

Why It Makes Business Sense

Businesses often wear their green credentials on their sleeve, showcasing them like a badge of honour. And consumers are well aware of the the potential implications of ignoring the facts. In today’s eco-aware world more and more people are, therefore, willing to pay a little extra if it means that they’re supporting environmental causes, and it’s only going to become more important in the future. Fundamentally, businesses which don’t start reducing their footprint and trying to make a positive change will find themselves falling behind their more ethically-minded competitors.

Improving Your Energy Efficiency

Late last year, at a roundtable event organised by the Telegraph, EON’s pricing and proposition manager, Jason Smith, raised the concern that businesses ‘have a responsibility to get more engaged with energy use than they [already] are’. With the aid of OVO technical support, businesses can take small, uncomplicated steps to tackle rising energy costs, while, in turn, doing their bit for the environment. Businesses and homeowners alike can benefit from innovative products such as demand side response (DSR). Through such efficient energy usage, it is estimated that businesses will save approximately £200 million a year.

This suggested figure indicates that snubbing sustainable efforts is at an economic cost to owners individually, in addition to any ecological expense. As the importance of every enterprise’s carbon footprint is established, together with EON and OVO, deciding which areas within your company can be conveniently ecologically enhanced is the best way to get started.

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David Bishop is a business blogger from London, England.