What is energy management?

Energy is one of the largest operational costs for businesses, and as energy prices have risen over the last few years the focus on managing cost and usage is becoming increasingly important. This blog outlines what energy management is and how it can be utilised to save money, carbon and forecast future energy usage. 

What does energy management mean?  

Energy management refers to the process of monitoring energy efficiency, energy wastage, energy procurement and risk management, and bill validation. Typically, energy management is outsourced as consultants can support businesses procuring energy from sources that meet both their overall financial and sustainability goals. Energy management consultants are different from energy brokers as they can offer a more holistic and tailored approach to their services.  

To find out more, read our blog explaining the benefits of a holistic approach to energy consultancy.  

What role does energy efficiency play?  

Analysing how energy efficient your business operations are is of key importance when establishing a energy management plan. It means monitoring consumption and deciding what the best energy-reduction projects will suit the business’s needs, as well as realistic timelines to achieve them. By working directly with meter led data, energy analysts can determine where energy is being wasted as well as at what times of day. This makes it easier to give recommendations where the best opportunities to be more efficient with energy usage.  

What is energy risk management? 

Energy trading and risk management (ETRM) is about appropriately managing risk associated with procurement and establishing a suitable strategy. Energy management consultants will offer insights into what kind of energy trading strategy might suit you best and what level of risk you should consider for your budget and needs.  

A well-crafted strategy can protect a company from the adverse impacts of market fluctuations and, in some cases, offer a competitive edge that drives higher profitability and growth. When it comes to energy risk management with Amber, we have a dedicated team that will work to establish a procurement strategy that meets your risk appetite and aligns to your financial forecasting. 

What is energy waste monitoring?

Energy waste monitoring is the process of analysing meter led data to identify where energy might be wasted by appliances. Looking at energy data in this way could identify where appliances that are inefficient or processes that unnecessarily use too much energy. Effective monitoring should lead to energy reduction projects which are used to highlight energy overuse in real time.  

Reducing energy wastage and looking at usage more closely is not just about saving costs but can also contribute to a business’s overall sustainability goals.  

What role does bill validation play in energy management? 

 With energy costs on the rise and markets remaining unpredictable, keeping a close eye on your consumption and catching billing errors is essential for maintaining control over your budget. At Amber, we use bill validation to spot and correct these errors, ensuring that you’re only charged for the energy you use. Our meter-level forecast offers projected cost and consumption values tailored to your financial periods, giving you accurate insights making it easier to plan for your future energy budget. 

Why choose Amber as your energy management partner?  

Amber has been a leader in bringing transparency to an unregulated sector. From day one, our focus has always been on putting the customer first. We offer a wide range of services designed to support and enhance your business’s energy strategy.