Why It’s Never Been More Important to Monitor Your Energy Use
A combination of geopolitical factors have all come together in 2022 to bring about a worsening energy crisis, forcing UK businesses into either adapt or go under. Wholesale energy costs are at almost 10 times the five-year average, largely resulting from Russia’s decision to limit gas supplies to Europe, at a time when businesses are already having to cut costs due to disrupted supply chains and cost-of-living increases.
Although the UK produces 60% of its electricity from renewable sources, volatile wholesale gas prices are having a huge effect on electricity prices, as the structure of the UK energy market means that electricity prices are dictated by the most expensive unit produced. Most energy market forecasters are expecting gas prices to remain elevated for years to come.
Yeah, it’s all pretty depressing, but if your business was sitting on the fence before about whether or not to investigate those high energy bills, it’s time to jump off that fence and into one of Go Monitor’s custom energy monitoring dashboards*. Depending on the complexity of your business, the inefficiencies in your energy usage could now be costing you significantly more than they were a year ago, with up to 6 out of 10 UK manufacturing businesses reporting that they’re under threat as a result of the energy crisis.
Our end-to-end IoT solutions include all the hardware you need for detailed energy use analysis, which can be displayed live on a custom cloud-based dashboard. Insights can be gained in real-time, letting you analyse those known-unknowns and identify any unknown-unknowns.
Contact us today, and learn how energy monitoring can help your business be more cost-effective.
*We specialise in end-to-end IoT solutions, not bad metaphors about fences.