Forget everything you thought you knew about energy prices. After a volatile year in Alberta’s energy sector, property owners are struggling to adjust to new norms in cost management.
For years, Alberta’s energy prices were relatively low and stable. Incorporating projected energy costs into short- and long-range forecasts was a reasonably straightforward endeavor. But in the spring of 2018, that changed as electricity prices started to spike. At times, they nearly doubled. Prices continued to fluctuate through the spring and early summer.
“If you’re responsible for your property’s electricity bills,” says James Koenig, a senior energy marketer with ATCOenergy, “this is the time to review your energy portfolio. Sitting down with an energy expert helps you develop strategies to lower your costs and manage risk to potentially volatile market prices. We’ll discuss your energy-related needs and future objectives, to reduce impacts to the bottom line.”
The volatility in prices earlier this year weren’t unexpected. Analysts had been predicting it since January, but skyrocketing rates still caught many Alberta businesses by surprise. Not everyone has the time or patience to follow market activity closely. It’s easy to miss important changes, or fail to recognize what they’ll mean for your business.
Fortunately, there’s a simple, cost-effective ways to understand what’s affecting your bottom line. Some energy retailers offer free no-obligation assessments. Setting up a face-to-face appointment with an energy expert means you have access to customized recommendations.
“Not every business uses energy the same way.” Koenig explains, “what might work to help to save money or mitigate risk at one property might not work for another building.”
Even if you’re in the middle of a contract with an energy provider, it still pays to set aside half an hour to meet with an energy expert. They can help you find ways to maximize your energy efficiency. With the market the way it is, property managers are learning they can’t afford to take a ‘set it and forget it’ approach to their energy.