Moving to a cheaper, greener energy system

A recent poll of small businesses showed that nearly two thirds1 of Britain’s business owners and senior decision makers think it’s important to embrace environmental issues, with many also seeing financial benefits as a result.

From those polled, 45 percent say that the changes they have made have saved them money, with 40 percent believing that becoming more sustainable has attracted more customers, as well as enhancing their reputation within the local community (44 percent).

With running costs remaining a concern for many small business owners, one in three polled2 say they are keeping a closer eye on their energy bills. When it comes to managing energy usage and costs, one small step small business owners can take, is to get a smart meter installed. They are the next generation of gas and electricity meters that are being installed in small businesses and households in Great Britain, replacing traditional meters.

When it comes to running a business, even making small changes and improvements can make a big difference, whether it’s saving money or being good for the planet. Getting a smart meter can help owners to understand exactly how much energy they are using and help them to control energy costs. A smart meter can also help identify ways to reduce energy consumption – which is good for budgets, as well as the planet.

Whether you own or rent your business premises, you may be eligible for a smart meter, and if you are renting, but pay your own energy bills, you can ask your supplier to install one3

Smart meter benefits

Smart meters have lots of benefits for small businesses, including:

• Accurate billing: smart meters measure energy usage in near real-time, so no more manual readings or estimated bills. This means you only pay for the energy you use, which can help with managing cashflow

• Control: the data provided by smart meters can give you more control over your business’ energy spend, helping you monitor energy usage and identify where cost savings can be made

• Access to historic energy usage data: small businesses with a smart meter can request free access to 12 months of data from their energy supplier. This could help with budgeting and reduce bill shock. It could also help you plan for your next bill by identifying any trends or patterns in your energy use across the year

As well as helping to give you more control of your business budgeting, smart meters are playing an important role in Great Britain’s energy infrastructure upgrade, as we continue to increase our use of cheaper, greener renewable energy sources.

The data smart meters provide is key to this innovation, and will enable us to buy, store and consume energy differently to the way we do today, gathering the information the energy networks need that will help the energy system better manage supply and demand. This will make the whole system more efficient and able to use more renewables such as wind and solar power.

So just by having a smart meter installed, you’re helping to create a smarter, greener energy system that will benefit Britain, the planet - and you.

1. Turning off equipment when not in use

2. Recycling old IT equipment

3. Creating a recycling policy

4. Keeping a much closer eye on energy bills

5. Replacing lights with LED alternatives

6. Using environmentally friendly products eg for cleaning

7. Reusing plastic carrier bags

8. Going paperless

9. Using local suppliers

10. Using eco-friendly/ biodegradable packaging

Source: Perspectus Global, July 2024, 500 SME owners and senior decision makers across