Utility Budgeting Tips: Saving Your Business Money

Utility budgeting is important to save your business money. Most companies spend more on utilities than they do on buying products or marketing and advertising. However, there are a few things that can be done to lower these operational costs.

calculator and financial report

Don't increase your budgeting percentage based on last year's utility report alone

Instead, gather your historical data going back at least a few years, check for seasonal variations and come up with an average. Most utility companies fluctuate their rates at different times during the year, not consistently on a month-by-month basis. Coming up with a yearly average based on seasonal fluctuations means you won't be under-budgeted during months when the rates are high because you over-budgeted during the months when they were low.

See if you have choices between utility companies

Some areas offer more than one choice when it comes to utility companies. There may be multiple electric, water or gas companies that could offer you great rates. It can be beneficial to shop around occasionally, especially if you have multiple offices or are not locked into a contract.

Check your area's weather patterns

Checking patterns for extreme weather during your company's past high and low utility bill months can be very beneficial. Weather can have a huge impact on your heating and cooling costs and knowing that the past 2 years have been more expensive in February, but costs went down by 25% each May for the past 4 years can help you decide where to allocate your budgeting resources.

How Performance Solutions can help

Performance Solutions can perform budgeting research and analysis while you run your business. We specialize in finding energy-efficient solutions that return you positive results. We use the data from the system you currently have, provide a platform for your system and a real-time window for decision-making while looking for new ways to save. We focus on low-cost/no-cost operation strategies to help you meet your bottom line.

For more information on the services we provide and how we can get results to save you money, please contact us.


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