There are many challenges facing Australian business, and the changing cost of energy bills is only one of them.
Many energy retailers offer competitive rates and discounts that only last for a fixed period, such as 24 months. Small businesses that fail to perform another comparison when they are due to renew risk losing competitive or discounted rates and an unnecessary rise in their next bill.
Make it Cheaper, one of Australia’s leading energy comparison services, assists businesses by navigating the complexities of energy consumption. They found that 76 per cent of businesses they contacted were overpaying on their existing plan and could save an average of $1000 per year on their electricity bills.
Doug Payne, Sales Director for Make it Cheaper, says he is hearing more from businesses on the front line getting hit by increases.
“The average business out there is saying ‘I cannot afford this 50 per cent uplift on my bottom line over the next 12 months. What can you do?’ It’s important because it really does affect people’s lives and livelihoods,” Payne told Business Insider.
Some industries are impacted more than others, such as hotels needing to run facilities like spas, pools and restaurants – all of which consume large amounts of electricity.
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Make it Cheaper leverages its extensive knowledge of the energy industry to build long-term relationships with their clients. While many businesses make the most of its comparison service, some find that they need ongoing support.
“It’s more of a consultative angle. We talk to them specifically about energy and energy consumption, through expertise, knowledge and insights,” said Payne.
“We have an intricate knowledge of business, what business needs are and – more importantly – how to save them money on tariffs, products and services.”
After working with Make it Cheaper, Radisson Blu was able to save $100,000 in energy costs over three years - funds they could then reinvest elsewhere in their business.
Make it Cheaper worked in partnership with the hotel chain in order to source and negotiate a competitive rate on their behalf. They also have an innovative program called 'Do it For You'. It works in the background to ensure you’re always renewing on a competitive energy plan, without having to manually do a comparison at every renewal
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For businesses under pressure, there are a number of ways to help ease the costs of energy without having to delve into complex negotiations or research for your business.
- Power saving behaviours can go a long way in the business. Payne suggests using automated tools, such as a variable-timing switch.
- Make it Cheaper can show you how to save money on tariffs, where businesses can take advantage of shifting energy prices throughout the day.
- Check the power ratings on the equipment that you’re getting. Organisations that are smart about equipment will find long-term savings from their energy bill.
Make it Cheaper will do the complex work for small business owners.