Rising energy costs are on the minds of people across the country at present.

The graph below shows the unprecedented rise in wholesale energy costs. Across the board, prices have doubled over the past five years.

Average electricity price increase

Now Origin, Energy Australia and AGL have all announced price increases for electricity and gas starting from July 1, 2017 (see below).

Retailer electricity price increase

So now everyone is talking about the very real prospect of prices rising by yet another 20% in the next few months.

Why the price rise?

Numerous factors affect electricity prices: you can blame gold plating (the massive over-investment in the electricity grid), gas contracts, closure of coal-fired power stations or the government itself. But if your business is interested in doing something to avoid the impact of the price rises you can either invest in solar panels or energy efficiency or (preferably) both.

Now more than ever is the time for key decision makers to execute energy savings measures.

So, what can your business do to improve energy efficiency?

For a start, you can invest in improving lighting efficiency as this can have a significant impact on the bottom line. On average, energy attributed to lighting in an office is around 18% of total energy cost. Of this 18%, over 70% energy saving can be made just by upgrading to high efficiency lighting. Typical payback can be less than a year, when you add in government rebates through the energy efficiency schemes in New South Wales, Victoria and South Australia.

Ecovantage can help

At Ecovantage, we have delivered energy savings equivalent to 2 million Mw over a 10 year period. That’s a (small) power station worth. We have done this predominantly by replacing old lighting with new LED which gives you better lighting that lasts longer and reduces energy (a lot). When a business reduces its use of energy, they cut their energy bills. It is a guaranteed way to improve profitability, resilience and value to a business.

This is just one example of cost effective measure that can be implemented.

Learn more about energy saving measures and get help to implement an energy saving strategy by contacting Ecovantage today at 1300 721 335.