Recent data shows a significant decrease in greenhouse gas emissions in 2023. In the UK we saw a 5.4% drop, with similar trends emerging in European countries. This came from households and businesses reducing their energy usage due to high energy prices. This decrease in demand is led to an overall reduction in the amount of fossil fuels used in the UK.
High Electricity Prices: A Double-Edged Sword
The main contributor to the emission reduction is the decrease in gas consumption for electricity generation. This can be attributed to two factors:
- Increased Efficiency: A lot of households and businesses have turned to renewable technology such as solar panels, heat pumps or even Voltage Optimisation. This has naturally led to a lower demand for electricity.
- Reduced Demand Due to High Prices: Undoubtedly, the surge in electricity prices has also played a role. Businesses and households alike have likely cut back on consumption to manage their energy bills.
While the emissions reduction is welcome, the high prices pose challenges. Businesses struggling with operational costs could lead to job losses and economic slowdown.
How businesses can reduce electricity costs
A lot of business owners panic when they see energy prices rise, however, this does not have to be the case.
Switching energy suppliers
When your business electricity contracts come to an end it is always best to shop around before deciding on a new contract to sign. The contract your supplier offers you to resign with might be more expensive than other suppliers on the market. Compare different prices and suppliers to make sure you don’t overspend on your electricity costs.
Working with an energy consultant
Another way your business can save on electricity is by working with an energy consultant. An energy consultant will assess you energy usage and help you find the cheapest prices possible for your business. Get in touch with one of our consultants today to find out more.
Finding Sustainable Solutions
The ideal scenario is to achieve emission reduction without sacrificing economic well-being. Here are some ways forward:
- Investing in Renewables: Accelerating the transition to renewable energy sources like solar and wind power can bring down reliance on fossil fuels in the long run, stabilising energy prices.
- Energy Efficiency Programs: Government and industry initiatives promoting energy-efficient appliances, building insulation, and smart grid technologies can significantly reduce overall demand without compromising comfort.
- Targeted Support: Providing financial assistance to vulnerable households during periods of high energy costs can help alleviate the burden and ensure everyone can stay warm without breaking the bank.
If you're looking to save money on your energy bills then why not get in touch today? The relationships Resolve Energy has developed with over 24 of the UK’s biggest business energy suppliers allows our energy experts to source the best business energy rates available for your company right when you need them. Request a free quote today and start saving money on your energy.
