3 Considerations for a Successful Corporate Energy Strategy

energy strategy

Your organization can benefit from a streamlined approach to energy procurement, energy efficiency and energy management. Here are 3 tips to help you more effectively manage your corporate energy strategy:

1. Make a Corporate Commitment to Energy

From finance, to procurement, to operations and facility management, multiple stakeholders in your organization benefit from a streamlined approach to energy procurement and management. It is essential for all employees to understand the company’s energy strategy and how they can help. Everyone in the company should be educated on the company’s energy and sustainability goals.

2. Set Goals, Benchmark and Measure

Setting goals and measuring the effects of your energy strategy is vital for continuous improvement and budget management. By setting goals, you can focus on specific, attainable and measurable results. Setting benchmarks help determine which metrics your business must hit to succeed in your market and creates a starting point for measuring your progress. Understanding your industry, as well as your competition, can help in setting realistic expectations. Measuring the changes in energy usage and monthly spend over time is the best way to analyze how the changes your company has made are affecting your bottom line. As businesses change and grow, so do industry norms. It’s important to keep a pulse on the energy industry, take advantage of any advantageous changes, revisit your benchmarks and goals, and adapt as needed.

Nuances and fluctuations in the energy markets can be difficult to track and interpret. As your trusted energy consultant, the Usource team is continually evaluating your metrics over time and alerting you to important energy industry changes that may impact you. This strategic approach helps fine-tune your energy strategy. By monitoring energy prices, for example, we enable you to take advantage of favorable market movements—and protect you from volatile price swings.

3. Consistent, Company-Wide Communication

It takes more than simply sharing your energy strategy with employees, and helping all to get on board. Inspire and encourage ongoing company-wide commitment by communicating your energy strategy metrics and initiatives on a regular basis. Invite input from employees on energy efficiency ideas, suggestions for sustainable energy, recycling and more. It’s about working together to achieve optimal results from a solid strategy, and helping employees understand the benefits and rewards. For example, if your company is looking into solar to achieve your sustainability goals, be sure your procurement team knows about the plan so they can adjust the energy contract. If your facilities department is planning to replace the HVAC system with more efficient units, make sure your finance department is aware so they’re prepared to receive rebate checks. Share your wins with your company.

Deregulated energy markets are among the most complex commodities markets in the world. By following these 3 tips, you can set your company up for success in executing an energy strategy for your business.

If you need additional guidance, Usource energy advisors have the industry knowledge, market insight, and deep experience to make cost efficient recommendations and help keep your business on track to achieve its energy goals. Our team becomes part of your team. We will be with you every step of the way to provide ongoing knowledge and consultation. Contact a Usource energy consultant to get started today.

About the Author

Scott MacDonald is Usource's Managing Director. Scott has 25 years of experience in the energy industry and is a recognized expert in energy economics and consulting. He has a MS from MIT and a BA in economics from the University of New Hampshire.

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