Energy prices expected to climb, if not hold steady, but anything could push costs upward. Facilities managers need to prepare now.
The changing of the seasons is an excellent time for the facility manager to think about how the upcoming weather will affect costs and facilities management processes. Since knowledge is power in facilities management, understanding what to expect will translate into better use of resources and hard savings as the seasons change. Before winter sets in, facility managers need to know a few things about what to expect of energy resources, availability, and costs in the coming months.
Fuel Prices Expected to Waver and Climb Will Impact Energy Outlook for Winter
This year is projected to be a milder winter than those of previous years, reports U.S. Energy Information Administration (EIA). However, this could be a sign of possible problems as warmer temperatures allude to increased holiday travel. Also, the fuel mix for gasoline may not be released until a later date, leaving travelers using the more expensive, summer blend. Fuel prices are expected to climb over this mild winter due to a stronger economy, and few indicators of significant legislation on the horizon.
More Demand Means Higher Energy Rates
Although consumers will not be relying on as much fuel to heat their homes, warmer temperatures might allude to the more excellent use of air conditioners and other energy-draining systems. As a result, utility companies may increase rates. However, the Winter 2018-18 Energy Market Assessment, created by the Federal Energy Regulatory Commission (FERC), a division of the U.S. Department of Energy, suggests that fuel and electricity demand will be moderate this winter, but the possibility of a significant storm causing a sudden surge in pricing remains.
How Sub-Load Meeting Can Help
While tracking overall energy consumption may help mitigate costs this winter, more prominent businesses cannot afford to risk everything on a generalized, total value. Instead, they should implement sub-load metering sensors to track energy consumption used by asset as well. This will help isolate the “vampire” equipment using more energy than is necessary. In fact, sub-load metering can help business owners understand their usage patterns and reduce demand. As a result, lower demand on utility companies may help keep rates down as winter approaches.
Temperature Sensors Reduce Loss of Water During the Winter
Another means of reducing energy consumption during the winter goes back to monitoring water resources. Business owners should act now to winterize pipes and heating systems to ensure their proper function if winter suddenly worsens. According to Bethan Moorcraft of Insurance Business Canada magazine, this includes checking vents for blockages, installing insulation around exposed pipes and fixing leaks. Also, businesses should consider deploying temperature sensors to track temperature impact on plumbing systems.
Implement Smart Building Controls Before Winter Sets In
The energy outlook for winter 2018 teeters between moderate temperature and unexpected surge in demand and pricing. Fortunately, ENTOUCH can help your business prepare for the possibilities of winter 2018. Although forecasters expect mild temperatures, it could change in an instant. Secure your savings with a comprehensive energy evaluation by contacting ENTOUCH online today.