The Business Case for Utility Rate Structure Analysis

Did you know that you have more control over your utility costs than simply changing how much you use? Many organizations are able to change their rate structure to minimize costs, and Foresight is here to help! A utility bill review is part of our Advanced and Pro level subscriptions.

 

FAQ

  • Isn't it the utility company's job to make sure that I am being charged correctly?

    Foresight will collect and consolidate all of your utility bills (electric, natural gas, water) onto our web based dashboard. Foresight compiles the data into simple, singular monthly reports in order to quickly educate you on how your building(s) is performing. Historical performance is compared with current performance normalizing consumption, cost, weather, and number of billing days.

  • Our building has been around a long time doing the same thing. Why would I need to check my rate?

    Foresight is the singular platform for your organization to track and share a variety of sustainability metrics. From recycling and composting, to VOC’s of air emissions, Foresight makes it easy to measure and manage the aspects of your organization that impact the broader community. With Foresight, you can seamlessly share your sustainability reports with clients, vendors, suppliers, team members, and shareholders.

  • How often do utility companies release new rates?

    Foresight is an Energy Star Partner and automatically integrates with Portfolio Manager, the EPA’s online energy management and tracking tool. After benchmarking your building, some buildings will be eligible to receive a 1-100 Energy Star Score. Buildings with an Energy Star Score of 75 or greater may apply for the Energy Star Certificate.

  • Our business is growing a lot. Should we be on a different rate?

    In addition to your utility bills, Foresight allows the storage of any document of your choosing as it relates to energy and sustainability management. Does your organization currently have internal spreadsheets, Word docs, and PDFs that you use to track various metrics? With Foresight, you can easily house it all in one place and turn your de-centralized data into meaningful information.

  • Our business is shrinking a lot. Should we be on a different rate?

    In addition to your utility bills, Foresight allows the storage of any document of your choosing as it relates to energy and sustainability management. Does your organization currently have internal spreadsheets, Word docs, and PDFs that you use to track various metrics? With Foresight, you can easily house it all in one place and turn your de-centralized data into meaningful information.

  • We just bought a building. How do I know if I am being set up on the correct rate?

    In addition to your utility bills, Foresight allows the storage of any document of your choosing as it relates to energy and sustainability management. Does your organization currently have internal spreadsheets, Word docs, and PDFs that you use to track various metrics? With Foresight, you can easily house it all in one place and turn your de-centralized data into meaningful information.

  • We just built a building. How do I know if I am being set up on the correct rate?

    In addition to your utility bills, Foresight allows the storage of any document of your choosing as it relates to energy and sustainability management. Does your organization currently have internal spreadsheets, Word docs, and PDFs that you use to track various metrics? With Foresight, you can easily house it all in one place and turn your de-centralized data into meaningful information.

  • How often can I switch my rate structure?

    In addition to your utility bills, Foresight allows the storage of any document of your choosing as it relates to energy and sustainability management. Does your organization currently have internal spreadsheets, Word docs, and PDFs that you use to track various metrics? With Foresight, you can easily house it all in one place and turn your de-centralized data into meaningful information.

  • Are there different rate structures for all utilities?

    In addition to your utility bills, Foresight allows the storage of any document of your choosing as it relates to energy and sustainability management. Does your organization currently have internal spreadsheets, Word docs, and PDFs that you use to track various metrics? With Foresight, you can easily house it all in one place and turn your de-centralized data into meaningful information.

  • What's the difference between Primary and Secondary service?

    In addition to your utility bills, Foresight allows the storage of any document of your choosing as it relates to energy and sustainability management. Does your organization currently have internal spreadsheets, Word docs, and PDFs that you use to track various metrics? With Foresight, you can easily house it all in one place and turn your de-centralized data into meaningful information.

Think of utility rates like cell phone plans: some have a high monthly cost but offer unlimited talk, text, and data; others charge a minimal fee, but each minute or text costs extra. Have you ever exceeded your data limit and received a bill that was three times higher than usual? Ouch! Well, utility rates are similar. Some charge large monthly fees, but offer lower distribution costs, and others charge more for energy used during the day than at night. There are even different rates that offer better prices for large users and some that give smaller users price breaks.

Like cell phone plans, finding all of the possible rate structures can be a very arduous process. Even more daunting? Finding the best rate for your organization once you've gathered the information. That's where we come in! Our Foresight team of experts will ask the right questions, do the necessary research, and find the lowest rate based on your facility's usage.
 

Utilities release new rates about once per year. Therefore, we find it is most advantageous to check utility rates every 12 months to ensure that your organization isn’t paying more than it should.

 


Real (big!) Customer Savings

After a local electric utility released new rates at the beginning of 2016, our engineers immediately discovered a rate change for one of our Foresight Pro customers. Upon taking our advice, we helped them make the change, resulting in about $100,000 in savings in the first year!

 

Who loves your utility bills?!

Check out the 1-minute video below to learn more about our process and, well, love of utility bills.