Keeping on top of your energy bills should also include checking and validation as part of your regular ‘housekeeping’. Most energy bills are found to be inaccurate so ensuring that you’re checking and validating them on a regular basis can help avoid overpaying.
Businesses can also seek to recover costs from inaccurate bills for up to 6 years prior. Identifying any errors that can be recovered on your behalf could recoup thousands in excess payments for your business. Any funds recovered could then be re-invested into other areas of your business such as your energy reduction plans to help meet your net zero target.
Energy bills are made up of both commodity and non-commodity costs which can make recognising whether you’re being billed correctly challenging. Particularly for businesses with multiple sites and hundreds of half-hourly meters to monitor and manage.
To combat any inaccuracies in meter readings some businesses have automatic meter reading (AMR) meters installed, however not all businesses do, and many can still experience billing errors. Reasons for billing errors can range anywhere from mistakes across the supply chain to incorrect meter readings, third-party charges, confusion on change of tenancies and supply chain contracts not being set up correctly.
How to check your energy bills
Around 20% of utility supplier bills are incorrect, resulting in overpaying for your business’ energy. Identifying any mistakes and having them queried can result in a refund for your business which is why a large number of businesses choose to work with an expert consultant to have their bills validated each month.
To combat overcharges or inaccuracies in your billing, many businesses will require the support of advanced error checking and reporting software. This specialist software can help to identify billing errors and ensure they are investigated correctly and completed to a high standard.
If your previous bills have not been audited it’s more than likely that there are errors waiting to be recovered. The process to do so can be managed end-to-end via a consultancy, who are able to identify and recover any errors on your behalf. Potentially providing your business with a significant refund and ongoing savings.
Any funds recovered can be reinvested back into your business for further improvement in carbon reduction and energy efficiency.
Download our full Business energy: The complete guide to getting ahead guide to find out more about energy procurement and how Inspired Energy can help.