Accessibility links

01799 530 335 | info@hsaaccountants.co.uk

  1. Resources
  2. Your business
  3. Developing your business
  4. Business finance

Reduce your utility bills

At HSA & Co we can provide businesses in the Saffron Walden area with help and advice on finance and on a wide range of business issues. Here is a checklist for reducing your utility bills…

Almost every business pays more than it needs to in utility bills. Conducting a utility audit might seem like a time consuming distraction but you could be pleasantly surprised by how much it adds to your bottom line.

Use the checklist below to identify potential savings for your business:

Print
Tick
Have a member of staff responsible for checking all utility bills – Make sure they know how the bills are calculated, what tariffs are available, etc.
Carry out your own readings of all energy and water meters each month – Use the information to plot patterns of use
Check that all utility bills are accurate and that any estimates are reasonable – Even the largest utility companies make mistakes
Annually review the tariffs you use – Not only do your usage patterns change, your suppliers also change the deals they offer
Monitor overnight energy usage – Check if it is being used by essential equipment and if so that you have the best overnight tariff
Make the best use of cheap rate electricity – If you can arrange usage by water heaters etc so that 15% of total electricity usage occurs during off–peak hours, you might benefit from switching to a day/night tariff
If you are on a Maximum Demand tariff, review your supply capacity – If your declared supply capacity is more than 15% higher than your highest Maximum Demand, contact your supplier to have it lowered
Find ways to reduce usage during peak hours – Try rescheduling non–essential loads
If you are on a monthly tariff, check your power factor – Check that you are not being penalised for a poor power factor
Shop around for a cheaper electricity and/or gas supplier
If your site has more than one gas meter, make sure they are aggregated for billing purposes – This can reduce both standing and unit charges and could lead to a better rate
Make sure your water meter is the right size – Standing charges are calculated according to meter size – don't pay for an unnecessarily large one

If you are in the Saffron Walden area and are looking for professional advice from an experienced team of accountants, contact HSA & Co.

Business News

'Strong case for capital gains tax reform', says IFS

The Institute for Fiscal Studies (IFS) has stated that there is a 'strong case' for reform of capital gains tax (CGT).

08 Oct 2024

Register for our Newswire

Why not register to receive our free Monthly Newswire?

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Learn More »
quickbooks.png xero-gold.png
receipt-bank.png unleashed.png acca-trainee-platinum.png acca-practising.png
xero-mtd-ready.png qbo-mtd-ready.png