You need an audit because there’s a 80% chance you’re sitting on savings. This means you’re likely loosing thousands of dollars every year, simply because you haven’t had a free utility audit like ours.
Over the past decade, we’ve found that there are 4 ways that most companies overspend. They:
Need a different utility rate structure
Have invoices with errors
Have overlooked tax exemptions opportunities
Are paying for services or meters that are not used
Fix this issues, and you’ll likely have a new problem: what to do with the extra $2000 a month that you suddenly have!
You Likely Need a Different Utility Rate Structure
There are three parts to utility rate structures: customer charges, demand charges, and supply charges.
They’re not all the same. Pick the wrong one and you may overpay. And to be honest, a lot of companies do.
During our audit, we find the rate structure that’s right for you. If we recommend changing your utility rate structure, it’s because you’ll save as the result. If this is the case for you, we will navigate the transition on your behalf and monitor your invoices to ensure your new rates are correct.
We don’t just find ways you can save, we follow through to make sure you can find things.
Your Invoices Have Errors
Few companies have the resources to review and monitor their invoices. It’s one of those things that can easily get lost in the sight of more urgent tasks. But it’s worth it to do because of how much it can save you.
Say you’ve been charged $500 a month for the past six months, but this month you get a bill for $700. You’ll know you need to investigate! Maybe the larger bill is the result of a usage spike - or maybe not.
Know your bill history and these anomalies will stand out to you.
You’re Missing Out On Tax Exemptions
When it comes to tax exemptions, it’s often ideal to have expert help. Different business can qualify for different statuses - depending on which state you’re in and which government regulations apply.
Tax codes can be complicated and overwhelming, but the business that know how to take advantage of the savings opportunities in them can come out ahead - way ahead, in some cases!
Business utilities can be tax deductible. Some companies can include them on the “other deductions” line item on their tax return. But you’ll want to make sure that filing as such complies with state regulations.
You’re Paying for Unnecessary Services or Meters
Over time, companies change. They get larger, and responsibilities change hands. In the process, some details can get overlooked. An audit can find services and meters that are no longer in use, but are still being charged.
Sometimes it takes another set of eyes to find these overlooked details!
Utility Audits Yield Savings
Reviewing your rate structure, your invoices, and your exemption options can yield savings.
Utility bills are non-negotiable - everyone has to pay them! But they’re also recurring, so the savings you enact today will affect your companies bottom line for years to come.