In the ever-evolving energy landscape, adopting an intelligent approach for...
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How Schools Can Save on Energy Costs
Matthew Gray
Head of Fixed Market Analysis & Energy Solutions
Overview
- Schools can lower costs by securing competitive energy rates and choosing effective contracts with thorough market research.
- Savings come from conducting energy audits, adopting efficient practices and technologies, improving insulation, and using renewable energy.
- Financial support is available through initiatives like the grants for efficiency upgrades and EV charger installations.
- EIC provides tailored solutions for schools to navigate energy markets, secure grants and implement cost-saving strategies.
In the current economic climate, controlling operational costs is crucial for educational institutions.
Among these costs, energy expenditure stands out due to its volatility and significant impact on overall budgets.
This post outlines a strategic approach to energy procurement for schools and provides practical advice on how to save energy, thereby reducing expenses.
Understanding Energy Procurement for Schools
Energy procurement is a critical process that involves the acquisition of electricity, gas and other fuels at optimal prices.
For schools, which are under constant pressure to manage budgets effectively, securing energy at competitive rates is essential.
The challenge lies in navigating a market that is inherently unstable, with prices fluctuating due to various global factors such as economic conditions, geopolitical tensions and supply chain disruptions.
Strategies for Cost-effective Energy Procurement
The first step in energy procurement for schools is to engage in thorough market research to understand the current energy landscape.
This involves comparing rates from different suppliers, evaluating contract terms and considering the potential benefits of renewable energy sources.
By doing so, schools can identify the best procurement strategy and subsequent energy contract.
How to Save Energy in Schools
Beyond procurement, significant savings can be achieved through focused efforts to reduce energy consumption.
Here are a few key strategies to implement to make energy use more efficient in schools:
- Conduct an Energy Audit: Identify where and how energy is used within the school. This assessment can reveal inefficiencies and areas where improvements can be made.
- Implement Energy-efficient Practices: Encourage behaviours that contribute to energy savings, such as turning off lights and electronic devices when not in use, and maximising natural light.
- Upgrade to Energy-efficient Technologies: Invest in energy-efficient lighting, such as LED bulbs, and consider upgrading heating, ventilation and air conditioning (HVAC) systems to more efficient models.
- Improve Building Insulation: Enhancing the insulation of buildings can reduce the need for heating and cooling, leading to substantial energy savings.
- Utilise Renewable Energy: Explore the possibility of installing solar panels or other renewable energy sources to reduce reliance on traditional energy sources and lower costs in the long term.
Government Support for Schools
Recognising the challenges faced by educational institutions in managing energy costs, government initiatives such as the Energy Bill Relief Scheme, which ends in April 2024, offer financial support to schools.
Additionally, grants for energy efficiency upgrades can provide schools with the necessary funds to implement cost-saving measures.
On average, it’s estimated that primary schools will receive around £16,000, while secondary schools can expect to receive about £42,000.
Furthermore, state-funded education institutions can secure grants for EV charger installation covering up to 75% of costs. Read more about this grant.
How EIC Partnership Can Help
Effective energy procurement for schools, coupled with strategic actions to save energy, can lead to significant cost reductions.
Our energy procurement solutions are designed to guide businesses and organisations including schools through unpredictable market conditions and help manage their risks.
Tailored to the specific needs of each organisation, our services aim to provide stable budgeting and cost savings.
Furthermore, we offer a variety of services that can help schools cut down energy costs significantly, from securing government grants to ensuring that utilities are being used in the most efficient way possible.
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Read MoreWhich suppliers does EIC work with?
EIC stands out from other energy consultancies because we’re completely independent.
This independence allows us to offer supply options from a wide range of energy suppliers, all of whom are unrelated.
Our energy advice is unbiased, giving you the freedom to make informed decisions for your business.
We have a proven track record of skilfully negotiating cost-effective contracts, ensuring you consistently get the best energy prices when you partner with us.
What if I am already with an energy consultancy?
If you’re already working with an energy consultancy, it’s a good idea to start exploring your options well in advance, preferably 18 to 24 months before your current supply contract expires.
It’s essential to distinguish between your energy supply contract and your energy consultancy agreement.
You have the flexibility to switch your energy consultancy while keeping your current energy supplier intact.
What happens after the energy procurement step?
Our comprehensive account managed service provides our clients with peace of mind throughout the entire energy procurement process.
When you choose our fixed energy procurement service, we’ll assign an account manager to you, someone equipped with the expertise and abilities to provide a customised solution that aligns with your unique needs and requirements.
The professionals who make up our dedicated procurement team are well-versed in resolving inquiries and skilled in engaging with energy suppliers to negotiate contracts on your behalf.
When is the best time to renew my energy contract?
The timing for transitioning to a new energy contract is flexible; you aren’t bound by a fixed schedule or renewal date.
Given the ongoing high volatility in the global energy market, it’s increasingly crucial to look beyond traditional renewal dates when contemplating a new contract.
