Watch: Simple Steps To Lower Electricity Rates
Facility managers know how to trim electricity costs by upgrading lighting, HVAC, and controls. But that’s just the tip of the kWh when it comes to reducing power bills and improving the organization’s bottom line. Managers should understand how to reduce regulated tariff rates for supply or delivery and how to minimize peak kilowatt demand, monthly and annually. Managers should also be familiar with capturing incentives and credits as well as tax breaks and securing cheaper electricity supply through subsidies, competitive procurement, and self-generation. Pursuing these four options could mean enjoying 10 to 20 percent in electricity cost reductions. Understanding how electric rates work and what options may exist to minimize their impact on power bills are necessary tasks when finding ways to cut costs Lindsay Audin.