Just as with raw materials or labor, energy is another big cost to businesses. Companies of all sizes can achieve substantial reduction in energy bills by implementing simple housekeeping measures and incorporating an energy strategy into their business plan. In fact, reduction and control of energy usage can be vital for any organization and its bottom line.
According to experts, reducing cost is the most compelling reason for saving energy. Research shows that most organizations can save up to 20 percent on their fuel cost by managing their energy use. Futhermore, reducing energy use helps reduce risk of energy price fluctuations and supply shortages.
Businesses that boost their energy management programs get good results, according to a 2017 Energy Decision Makers Survey Report. Of the 300 business owners and energy decision-makers surveyed across the United States and Canada, 94 percent are acting to reduce their energy use.
Equally impressive, 85 percent of businesses said that their energy management practices lowered energy costs. And one-quarter successfully lowered energy costs anywhere from 11 percent to 20 percent.
Given these results, it’s not surprising that companies are enhancing their commitment to energy efficiency.
Many are taking actions to reduce energy usage, including:
• Using monitoring technology – 47 percent
• Promoting energy-saving practices – 65 percent
• Making energy-saving improvements – 68 percent
But there is still room for improvement. Today, experts agree that employers must take a look at energy management, as well as renewable resources, as part of their long-term vision for growth.
In this edition of the Business Magazine, we’ll take a look at some of the success stories and various energy resources that are found in our membership region, including such organizations as the Erie Water Works. We’ll also hear from Michael Colpoys of National Fuel Gas Distribution Corporation about why natural gas is the fuel of the future. And, we’ll talk with guest columnist Laurie Templeton of RETTEW’s Williamsport office about why “Green is the New Black” and redefining sustainable energy.
In fact, since 2009, the Manufacturer & Business Association (MBA) itself has supported its members’ energy needs. That means consistently looking for ways to help them maintain a competitive advantage.
Through the Association’s own energy program, EnergyAdvisors, more than 400 participating member companies have access to our energy experts and assistance with their energy needs – no matter how simple or complex they may be. To learn more, visit www.mbausa.org or www.mbaenergyadvisors.com.