Energy is a complex category, yet too often large multisite businesses and their staff are busy managing many commodities at once. This can make it difficult to gain the subject matter expertise needed to understand each commodity in detail. But if you do, it will ensure you are in the driver’s seat to drive the best prices for electricity and lower your overheads.
Demystifying the Australian energy re-contracting gorgon like ‘Demand Resets’ will ensure you are better placed to make educated, informed decisions, and as you are likely to be heading into ‘re-contracting season’ soon, this will increase your chances to drive your Australian electricity costs down.
What is a Demand Reset?
“Demand” indicates the total amount of electricity that you are using for that meter at any one time. Your demand can vary from hour to hour, day to day, season to season, and even be impacted by a one-off event. A demand reset is a request to have your demand reset back to zero.
A demand reset request is lodged with a network provider via the incumbent retailer. This analysis requires assessing historic 12 months of data to understand the highest observed demand and comparing against the contracted demand for the site.
And once you have completed your Network Tariff Review – you will know which meters you are potentially getting overcharged for and can ask for these to be reset – this means that you should also unlock the lower tariffs.
Once you have unlocked the best possible tariff per meter, you will want to be sure that you can stay on it.
How do you do this?
- Investing in smart Utility Bill Management software can: Proactively create built-in alerts to warn if a site is likely to breach a certain usage threshold.
- Easily analyze 12 months of usage data to reset higher contracted demand to lower contracted demand.
- Provide real-time access to meter data to ensure you are always ready to re-contract, proactively manage demand, and avoid nasty surprises and manage your risk
- Bid’s Utility Bill Management automated validation engine compares checks for billing accuracy, all meter data is checked against the corresponding invoice data to verify that it is appropriate for the billing period.
- When exceptions are identified, they are flagged for action, providing additional billing assurance, knowing you are getting charged what you were contracted to pay.