Reduce your utility bills

A checklist for utility savings.

At Connected Accounting we can provide businesses in the St Albans area with help and advice on finance and on a wide range of business issues. Here is a checklist for reducing your utility bills…

Almost every business pays more than it needs to in utility bills. Conducting a utility audit might seem like a time consuming distraction but you could be pleasantly surprised by how much it adds to your bottom line.

Use the checklist below to identify potential savings for your business:

	Tick
Have a member of staff responsible for checking all utility bills – Make sure they know how the bills are calculated, what tariffs are available, etc.
Carry out your own readings of all energy and water meters each month – Use the information to plot patterns of use
Check that all utility bills are accurate and that any estimates are reasonable – Even the largest utility companies make mistakes
Annually review the tariffs you use – Not only do your usage patterns change, your suppliers also change the deals they offer
Monitor overnight energy usage – Check if it is being used by essential equipment and if so that you have the best overnight tariff
Make the best use of cheap rate electricity – If you can arrange usage by water heaters etc so that 15% of total electricity usage occurs during off–peak hours, you might benefit from switching to a day/night tariff
If you are on a Maximum Demand tariff, review your supply capacity – If your declared supply capacity is more than 15% higher than your highest Maximum Demand, contact your supplier to have it lowered
Find ways to reduce usage during peak hours – Try rescheduling non–essential loads
If you are on a monthly tariff, check your power factor – Check that you are not being penalised for a poor power factor
Shop around for a cheaper electricity and/or gas supplier
If your site has more than one gas meter, make sure they are aggregated for billing purposes – This can reduce both standing and unit charges and could lead to a better rate
Make sure your water meter is the right size – Standing charges are calculated according to meter size – don't pay for an unnecessarily large one

If you are in the St Albans area and are looking for professional advice from an experienced team of accountants, contact Connected Accounting.

Latest News Keep up with the latest business news stories

17 Apr 2025

Business confidence falls to two-year low

Data published by the Institute of Chartered Accountants in England and Wales (ICAEW) has revealed that business confidence has fallen to its lowest level in two years.

16 Apr 2025

Inflation falls as result of lower petrol prices

Lower petrol prices helped to drive down UK inflation by more than expected in the year to March 2025, official data has revealed.

15 Apr 2025

Companies House begins to verify identities

A new service has been launched that allows individuals to verify their identity directly with Companies House through GOV.UK.

14 Apr 2025

Spending Review 'could brighten living standards outlook'

Think tank the Resolution Foundation has suggested that the government's upcoming Spending Review could help to brighten the 'bleak living standards outlook' for low-to-middle income families.

11 Apr 2025

Business group welcomes launch of Code of Practice

The Institute of Directors (IoD) has welcomed the launch of the government's new Cyber Governance package, which is underpinned by the Cyber Governance Code of Practice.

10 Apr 2025

Price rises 'most likely response' to US tariffs

Price increases are the most likely response to US tariffs by affected firms, according to a survey conducted by the British Chambers of Commerce (BCC).

09 Apr 2025

Pension reforms needed to help people through retirement

Reforms are needed to make the pension system easier to navigate successfully in order to help reduce the risk of a shortfall in retirement, according to the Institute for Fiscal Studies (IFS).

08 Apr 2025