Volume 16, Issue 14 May 6, 2019
In this Issue
Does Your Organization Have a Defined Energy Strategy?
Editor's Note
Summer Outlook
Renewable Energy
U.S. Electricity Generation from Renewables Set to Surpass That of Coal for First Time
Weather
Local Heating Degree Days*
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Does Your Organization Have a Defined Energy Strategy?
Jump start your organizations energy strategy with these tips...

 

In today’s complex energy market, businesses of any size can benefit from a comprehensive energy plan. Such plans allow organizations to align their energy procurement strategies with their short and long-term goals. With careful planning, energy becomes an asset, making an organization more resilient and secure. Market volatility and changing regulatory environments are just two factors that a well thought-out energy plan can help to mitigate. 

The following tips can help organizations of any size take the first steps towards a comprehensive energy plan.

  1. Conduct an energy audit.
    Do you have a clear idea of your present, short-term and long-term energy demands? An energy audit can help you anticipate your energy needs months, years and decades from today, based on factors such as facility expansion and anticipated relocations. You’ll also want to assess the dependability of your supply chain and review any past supply interruptions or unacceptable price volatility.
  2. Define your business risk.
    Strategic energy planning involves considering how your business operates. For instance, your ability to control your energy load in times of high demand can inform the energy pricing plan you choose. Overall, knowing your organization’s risk appetite is fundamental in determining a preference for price certainty over market flexibility, or a balance of the two.
  3. Fully understand your existing energy contracts.
    Review your existing energy contracts and consider how they may affect your decision-making process. It’s also important to review terms and conditions, looking for potential blind spots that may impact the advantages of the contracted pricing plans.
  4. Determine if your energy plan supports your corporate goals and values.
    You may have corporate sustainability goals, employee or student recruitment efforts. If so, renewable energy products and energy conservation measures may factor into your procurement and comprehensive management strategies.

Developing a defined energy strategy starts with assessing your organization’s goals and potential energy needs for the future. While this may seem like an overwhelming task, your organization can benefit from the development and implementation of a defined energy strategy.

For help developing an energy plan for your organization, visit www.wglenergy.com or call 1-844-4ASK-WGL to speak with one of our energy experts.

 

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