Keen to lower energy costs? You’re not alone. For businesses, there are three ways to tackle savings.
- Implement energy efficiency savings
- Negotiate a better deal
- Actively manage demand
Tips for getting a better deal
Start by researching the market to get a feel for the best times to negotiate or enter into new contracts.
The aim is to make procurement decisions at a time when you believe electricity is trading cheaper than it is likely to be in the future. This assessment could be done by a staff member who has time to analyse the market, but there are also intermediaries who can monitor pricing and advise on windows on your behalf.
- The Australian Energy Market Operator (AEMO) features pricing information.
- The ASX website publishes pricing for electricity futures.
- The Australian Energy Regulator publishes daily, weekly and longer-term reports on the performance of the electricity and gas markets.