4 things businesses need from their energy provider
Organizations of all sizes are looking for ways to manage their energy consumption and costs. In 2019, customized products and services are vital as consumers look toward retail energy providers to offer innovation in the form of renewable options, tracking technologies, and market insights. Direct Energy Business President John Schultz recently discussed the top four themes he’s seeing in the energy industry, and how providers are working to meet them.
1. Managing Energy Supply
Whether your business is powered with electricity, natural gas, or both, suppliers offer a range of energy procurement options depending on the risk tolerance and preferred level of engagement of your organization.
“Small business owners just want a simple offer,” Schultz says. “They want a fixed rate for a period of time, maybe with some bundles or loyalty programs associated with those.” Cost savings and simple energy plans enable these business owners to focus on what’s most important: running their business.
Conversely, medium and large sized organizations with higher energy consumption are usually looking for much more. From customized hedge strategies to market intel and real-time monitoring equipment, these sophisticated energy buyers often need access to energy experts. A trusted energy supplier can complete the energy team, offering guidance based on the organization’s financial and energy goals.
2. Reducing Energy Consumption
Recently, businesses have become more conscious about when they’re using energy and how they’re monitoring, shifting or reducing consumption to reduce the bottom lines, and in some cases even create new revenue streams.
“Medium to large enterprises increasingly are getting involved and saying ‘how can I manage or reduce my total consumption, how can I shift that total consumption and how can I manage that consumptions during periods of time when the grid is peaking’ because that can have a material impact on their overall budget,” Schultz remarks.
3. Meeting Sustainability Goals
Greening up your supply and using energy efficiently isn’t just socially responsible – it makes economic sense. Most mid- to large-sized companies are striving to meet corporate sustainability objectives in 2019.
According to Schultz, “That can be something as simple as helping them purchase renewable energy products, which would support the development of renewable energy, to something much more sophisticated as far as power purchase agreements for 5, 10 years or longer, with blends of different types of renewable and grid-based power.”
As part of the RE100 initiative, more than 150 organizations have already pledged to transition to 100 percent renewable energy. Forward-thinking energy suppliers are finding solutions such as power purchase agreements, behind-the-meter solar, and even storage technologies to help businesses meet these sustainability goals.
4. Creating Resiliency
The typical U.S. business will experience one to three power outages per year, lasting anywhere from a few minutes to a few days. Many businesses simply can’t afford that kind of unpredictable disruption.
“We help businesses think about their options, the economics and what is the art of the possible,” Schultz explains. “We want them thinking about how they can self-generate, either thermal energy or electricity on site. All of those energy assets are very economical when compared with grid-based power.”
Together with its sister company, Centrica Business Solutions, Direct Energy Business provides leading offers to organizations seeking on-site resiliency solutions.
To learn more about energy solutions for your commercial and industrial operation, check out Direct Energy Business strategies online or call 855-399-9741 to get a customized quote.