|
Electricity: Name Your Price
As electricity costs jump in a volatile energy market, c-store owners need to switch to a more assertive strategy to lower their costs.
Between lighting, refrigeration and heating and air conditioning, retailers use an average of 62 billion kilowatt hours of electricity per year, according to the U.S. Energy Information Administration. Coupled with the skyrocketing price of natural gas and historically high summer demands, electric costs take an even larger bite of c-store owner’s operational costs.
Most chains have already implemented the most well-known way to cut electric costs: conservation tactics. Installing energy-efficient lighting, cranking down heating and cooling systems after hours, using ‘smart’ thermostats, improving door and window seals, and making sure HVAC units are operating at peak efficiency.
But there’s a little known and highly beneficial technique most c-store owners haven’t yet exploited. Surprisingly, c-stores don’t have to accept the rate their electricity provider hands them. By exploring electric rate options, owners can drive costs down without reducing electric usage.
Here are some tips that will help c-store owners do just that:
Know if the c-store is located in a deregulated or regulated state. If the store is in a deregulated market, c-store owners can shop around to find an energy supplier that will offer the best rate. On the other hand, if the store is located in a regulated market, storeowners have no choice but to use the utility company that’s legislated to serve their area. This means paying the utility’s going rate which, in some cases, can fluctuate by as much as 30% monthly or quarterly with the price of natural gas and other fuel costs….
|