With energy prices at an all time high and projections for a steady increase of 4% every year over the next 20 years, it’s no surprise that Brisbane businesses are jumping at every chance they can get to reduce their power consumption.
We take a look at the predicted rise in electricity costs and how you can protect your business with Power Factor Correction.
Electricity prices are set to soar in 2017
According to QCA chair Professor Roy Green, the steep rise in electricity costs is due to the increased demand the state’s LNG plants are putting on the grid. An LNG plant is a facility that reduces the volume of natural gas to make it practical and commercially viable to transport it from one country to another.
“It’s the inevitable outcome of being plugged into the world economy,” says Professor Green. The move towards global prices and a world marketplace are putting more pressure on Queensland’s electricity grid.
A recent analysis of Australian Bureau of Statistics data reveals that Queensland electricity prices are rising faster than anywhere else in the nation. In fact, one leading energy economics consultancy found that there may even be only two other comparable nations (in the world) that pay more for power than Queensland residents!
So, what can you do to protect your business?
One trap that many businesses fall into is paying for electricity that they don’t even need. Changes to the way Energex calculates its network tariffs in Queensland mean that businesses with an annual consumption greater than 100 MWh are being charged for the power they are supplied rather than the power they are using in the way of a “Demand Charge”.
Power Factor Correction is a solution that’s helping Brisbane businesses save hundreds to thousands of dollars per year. A Power Factor Correction unit will stop your electricity company from supplying you with extra electricity and free you from having to pay for it in your “demand charge”.
What are the benefits of Power Factor Correction?
- Make massive monthly electricity savings.
- Improve your facilities efficiency and add value to your business premises.
- Gain a competitive advantage.
- Reinvest the money you save into staff, production and marketing.
- Reduce your carbon footprint and become more environmentally-friendly.
- Pay back your Power Factor Correction unit within 12 months.
How do I get a Power Factor Correction unit?
Installing a Power Factor Correction unit is easy — all you need to do is call an expert, and they will do all of the hard work for you!
You can book a Power Factor assessment with Allied Construction and Roofing today. For a free check, measure and quote call us on 1300 650 114 or send us an online enquiry to find out how much money you could be saving.