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In one of our webinars, ‘Take Control: How to Tame your Energy Costs in a Wild Market’, Chris tells us:
Over the last five years, no one has been spared from rising energy costs that have gone up as much as 40%. Everyone from commercial building and multi-residential building owners and facility managers to homeowners and renters are feeling the pinch despite efforts to reduce energy consumption.
The province of Ontario got rid of all fire coal generation (which accounted for roughly 20% of all energy generation), in an effort to lower overall carbon emissions, to reduce its reliance on fossil fuels, and to improve the health of its residents and the environment. This meant a move to gas and wind turbine farms, which resulted in a substantial investment into Ontario’s Infrastructure Renewal Project.
Prior to this, variable costs (which you could control) contributed significantly to overall costs, while fixed costs played a much smaller role. After the investment into Ontario’s Infrastructure Renewal Project, the impact of those costs reversed themselves, leading to higher fixed rates. Rates are expected to continue to rise about 8% per year, for the next five years.
The best way to manage energy consumption is to:
Taking these steps can help you identify benchmarks to set for your properties. If you manage several similar buildings, analyze consumption rates across your properties. Determine where you are saving with some buildings and over consuming with others. Use this information to establish best practices across all of your properties.
Chris shares great tips for how you can implement these changes, manage costs and be ready for mandatory reporting. Business solutions like Bruce Power Direct can help companies manage all of these variables in a single platform. From real-time reporting, such as monitoring consumption down to the hour, to identifying inefficiencies, managing reporting, and helping you reduce consumption, solutions such as these can simply the process.
As time goes on and market forces change, businesses may have to readjust the strategies and tactics that work best for them. Every situation is different. However, taking the steps now to understand the legislation and prepare you now will make adjusting to those changes much easier.
Interest(s): Property Date: March 18, 2016