CEO's view on managing increasing energy costs

We recently interviewed one of our key customer (an ASX listed entity), to understand their approach in managing the ongoing increase in energy costs.

Have a read of the CEO's thoughts!

From the Board room...

As a CEO in Australia, budgeting for increasing energy costs poses significant challenges. As a CEO leading an organization in Australia, the task of budgeting for the increasing energy costs presents significant challenges. The dynamic energy landscape, evolving regulatory frameworks, and the growing need for sustainability demand proactive strategies to ensure financial stability and operational efficiency.

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1. Understand the Energy Market: Monitor market trends, consult experts, and analyze data for accurate budget projections.
2. Navigate Regulatory Changes: Stay updated on evolving regulations, assess financial implications, and integrate compliance costs into budgeting. Collaboration with industry associations like Agile Energy and government bodies can provide valuable insights and guidance on compliance measures and potential cost-saving initiatives.
3. Embrace Efficiency and Renewables: Prioritize energy audits, explore incentives, and integrate savings projections into budget forecasts. We continue to get YoY benefit from the Agile Energy power purchase arrangement.
4. Optimize Energy Procurement: Diversify sources, negotiate with suppliers, explore long-term contracts, and leverage technology for cost-effective procurement. Additionally, exploring long-term contracts, hedging against price fluctuations, and leveraging emerging technologies like smart grids and demand response programs can optimize energy procurement and mitigate financial risks.
5. Encourage Employee Engagement: Foster energy-conscious culture, educate employees, and implement energy-saving practices for cost reduction.
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Or learn more at https://www.linkedin.com/company/agileenergy/

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