As the world becomes increasingly aware of the impact of climate change, many countries are introducing legislation to reduce carbon emissions. One such example is the market-wide half-hourly settlement, requiring energy suppliers to offer customers the option to receive bills based on half-hourly usage increments. This not only provides a clearer insight into energy usage patterns, but makes it possible to bill energy on a much more flexible basis, varying prices for peak and off-peak periods and opening up the potential for businesses to make savings by moving energy-intensive processes to times when demand, and prices, are lower.
This significant energy market reform, due in 2026, will lead to a corresponding uptick in businesses installing smart meters in the hope of reaping the benefits of more accurate billing and innovative pricing structures. This shift towards real-time monitoring of energy usage is a significant step towards helping small businesses take control of their energy usage and reach net zero emissions targets.
Kyle Rossi, Senior Manager for MRI Software’s Energy solution says
“We’ve seen time and time again that one of the biggest challenges facing small businesses when it comes to energy management is the lack of resources and expertise to implement energy-saving measures. While smart metering is great step forward, smart meters still don’t provide the granularity of data needed to break down energy usage fully, and they also don’t provide the analysis and insight necessary to make proactive changes to reduce usage and costs.
The risk is that without a deeper understanding of how to approach their efforts to reach net zero, small businesses could become discouraged, or feel that they’ve “done all they can”, leaving significant savings on the table. It’s therefore important for small businesses to understand that smart meters are just one aspect of effective energy management.”
He then adds:
“To truly get a full picture of energy usage and identify opportunities for efficiencies, businesses need to segment their energy data. By collecting data from submeters, IoT sensors and other measurement tools and cross-referencing this against business metrics such as production or occupancy figures, it’s possible to build a much more nuanced picture of how and where energy is used across a business – and where the opportunities for long-term improvements and efficiencies lie.
It goes without saying that segmenting energy usage in this way results in a huge amount of submetering and IoT data that can easily become overwhelming. This is where an energy management platform comes in. With a hardware agnostic approach, it can integrate with businesses’ existing infrastructure and the ability to collect and collate data from a wide range of protocols, including IoT, MQTT and APIs. The right platform can help businesses collect, streamline and analyse energy usage data at the granular level they need to spot unnecessary consumption.”
While half-hourly settlement and smart metering can provide insight into top-level usage trends, a deeper dive is necessary to drive ongoing improvements. Businesses must understand how different parts of their building or organisation are consuming energy and where they can make the most significant improvements.
With a strong focus on helping businesses achieve their net zero goals, your energy management platform should offer a range of tools and solutions that can help make informed decisions about energy usage and identify opportunities for improvement. As the journey to net zero continues, investing in the right energy management tool will be essential for businesses looking to stay ahead of the curve and make informed decisions about their energy usage.
To find out more about MRI Software’s Energy platform get in touch with MRI Software today.
W: mrisoftware.com/uk/products/energy-management-software/
E: EMEASales@mrisoftware.com T: (0)20 3861 7100