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Each year, Australian small businesses spend more than $10 billion on electricity and gas1 – and rising energy prices may be putting these businesses under pressure.
As part of its 2018 Retail Energy Competition Review2, the Australian Energy Market Commission (AEMC) found that while new providers are entering the market, this competition is not delivering expected benefits to energy users.
With annual electricity bills for small businesses increasing between 5-28% in the second half of 20172, there’s no doubt that rising energy costs are taking a toll on small businesses across Australia.
If you’re a new business or have recently moved premises, your energy provider may use the historical energy usage3 of that site to estimate your annual usage. If your business is very different to the one located at that premises prior to you, it’s a good idea to conduct an energy assessment as soon as you can after moving in.
Small businesses pay more for energy than consumers4, and generally use more of it. For this reason, it’s critical that business owners have a clear picture of their energy usage and understand their energy bill fully.
You may be able to achieve significant cost savings for your business simply by ensuring that you’re on an energy plan that's suitable for you, or using iSelect’s energy comparison service to find a new one from our range of providers*. The first step to better understanding your energy usage is to conduct an energy assessment to find out where your business uses the most energy.
A thorough energy assessment will allow you to5:
You can conduct an energy assessment yourself, or appoint an external expert to do it for you6.
Once you understand your peak, off-peak and total usage, ask your current energy provider whether you’re on the right energy plan for your business. You can also compare energy plans with iSelect to see if there’s a plan which better suits your needs from our range of providers*.
Armed with your energy assessment, you can identify ways to reduce energy usage across your business. Some quick and easy changes you can make are:
Most small business electricity bills will have two main parts – a daily supply charge (a fixed cost) and a usage charge (a variable cost that reflects your usage). The supply charge will be applied regardless of whether you use any energy. The usage charge will reflect the amount of energy you’ve used9, multiplied by a price per unit. This price per unit can vary depending on several factors, such as where you live, when you use your electricity, and what sort of contract you’re on9.
Your energy agreement will outline one or more of the following tariffs which apply to your business:
Green or renewable energy is energy that comes from natural resources such as the sun, the wind, water and waste. Today, about 11% of Australia’s energy comes from renewable sources10. This includes energy from the sun, wind, water, and biomass waste.
By using green energy, you can reduce your business’s impact on the environment and support the growth of Australia’s renewable energy sector. To go green, you can give us a call on 13 19 20 to talk about how much green energy you’d like to use as a percentage of your business’s total energy use.