What can your household and business do to help control what you pay for energy without negatively impacting what you do
Published 26 Mar 2023
The demand for energy has been steadily increasing and it is projected to dramatically grow by 50% by the year 2050. Along with the increase in demand is the rise in energy costs and, with many factors considered, energy prices are expected to only increase even further. At the rate of energy price increases, there’s no telling just how costly energy consumption could become.
Rising Energy Prices
Having energy regulators in place, such as Ofgem in Great Britain that set energy price caps, is a way for governments to implement controls in order to protect consumers from sudden energy price increases. Measures such as price caps to control energy prices, however, can only do so much.
The increase in energy prices is caused by several factors and the use of various energy services—colder winters that drive an increase in gas consumption, limited gas supplies, changing energy sources from coal to gas, and international relations—and even though these factors evolve, they often result in energy price increases.
The increase in energy cost has negatively impacted several industries.
Aluminum producers have suffered from energy price increases, becoming one of the causes of closures of aluminum plants.
Even energy suppliers themselves were not unscathed. Several energy suppliers in the UK have shut down due to the gas crisis, forcing their customers to switch suppliers and end up with higher energy prices.
Despite the rising demand and costs of energy, consumers can find ways to minimize energy consumption and, ultimately, the impact of rising energy prices. Here are 5 tips on how to reduce energy costs and ensure high efficiency for energy-powered devices:
Empower your team with SafetyCulture to perform checks, train staff, report issues, and automate tasks with our digital platform.
SafetyCulture (formerly iAuditor), an app meant for organisations of all sizes, can help with the efficient consumption of energy through its many functions. Here are some of the features of SafetyCulture to help you better control your energy use and keep rising energy costs at bay:
Get started with SafetyCulture for free, view pricing plans, or book a demo.
Determine the energy efficiency of your business with this energy audit checklist. This can help you align with best practices or standards on energy consumption (ESOS or ISO 50001). This is divided into the following sections:
Heating and Cooling
Motors and Equipment
Findings and Recommendations
Erick Brent Francisco
Erick Brent Francisco is a content writer and researcher for SafetyCulture since 2018. As a content specialist, he is interested in learning and sharing how technology can improve work processes and workplace safety. His experience in logistics, banking and financial services, and retail helps enrich the quality of information in his articles.
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