There are many challenges facing companies today across the energy and sustainability landscape. From cost pressures within an organisation, to zero net energy and zero waste goals, and intensifying pressure from shareholders and customers to adopt sustainable practices. In response to these changes, companies have increasingly prioritised the reduction of energy cost and consumption as part of their strategic planning initiatives.
Energy and Facility Managers reporting across multiple geographies and business units are looking for ways to improve energy data management and reporting practices. Data accuracy and availability are essential, yet time-consuming to achieve. Within this article, we suggest four best practices to manage data more efficiently across an organisation and garner actionable insights.
1. Track accurate energy cost and consumption data
Most companies use outdated tools and processes to collect and manage energy data. While some companies enter data from utility bills into spreadsheets, other companies use accounting systems that make it difficult to track and consolidate energy-specific data such as consumption. In both cases, data gathering is labour-intensive, time-consuming and an error-prone process.
“While several companies offer only software, Ecova offers a set of integrated solutions to acquire and track data, provide insight and recommend actions to drive powerful results across different countries,” says Christine Paul-Bray, Ecova’s Director of International Business Development. “What really makes the difference is providing end-to-end service. Ecova has learnt how to handle this in North America, where states and provinces have different energy regulations, and there are over 3,500 energy suppliers. In Europe, while there are fewer suppliers in each country, it can be difficult to keep track of frequent changes in local legislation.“
Consistent utility data management across client portfolios, rigorous data validation, tolerancing for variations and exception handling across countries is what makes Ecova’s services unique.
2. Understand in which countries your organisation overpays for electricity
Over 700 energy, sustainability, facility and finance professionals from across North America took part in the Ecova Energy and Sustainability Outlook survey for 2016. While nine percent of respondents anticipate a decrease in energy prices in the coming year, a majority 57 percent still expect to see energy prices increase in 2016. Ecova provides detailed insight into energy markets internationally, knowing how prices are trending and where volatility is most likely to impact the bottom line.
In most European countries, wholesale prices have decreased and companies can expect to make savings by negotiating a better rate, according to the November 2015 report of the European Agency of Energy Regulators (ACER)1. Strategic Energy Sourcing enables purchasing decisions that fit companies’ budgets and are based on competitive price transparency across their geographically diverse portfolios.
3. Identify true outliers
A third of respondents to the Ecova Energy and Sustainability Survey said they have meters, EMS, BMS, or other data collection/monitoring devices installed at a majority of their sites. Another 20 percent said they have meter data gathering technology in pilot.
In order to identify the real savings potential, international companies need to compare apples to apples. Managing utility data for over 710,000 sites across North America and Europe, Ecova is able to apply targeted analytics and vertical- and geographic-specific benchmarking algorithms to identify efficiency opportunities. With a foundation of accurate data,
Ecova is able to provide deeper, more comprehensive insights, enabling companies to pinpoint the best opportunities to control their utility costs.
Analytics-based, weather-normalised benchmarking aids companies in comparing sites across states, regions and countries, all normalized for location and business-specific drivers. This allows determination of the root cause of resource cost changes and trends, and empowers those responsible for global energy management by providing quick insights to optimize programs.
4. Meet shareholder expectations regarding sustainability reporting
Disparate sources of data and changing emissions factors globally make carbon emissions difficult to report on. Ecova ensures best practices for carbon reporting and data rigour are applied consistently.
Accredited by the Carbon Disclosure Project, Ecova has helped clients significantly improve their CDP responder score, some of whom, including Caesars Entertainment, achieved a full 100. With carbon reporting and consulting, companies can strategically manage carbon performance, seamlessly report on global carbon emissions, and maximise marketplace recognition.
Ecova makes businesses and utilities more successful through energy and sustainability management. Ecova blends data and technology, with people and insight, to drive powerful results. Using insights based on consumption, cost and carbon footprint data spanning thousands of utilities, and hundreds of thousands of business sites across North America and Europe, Ecova provides fully managed, technology-optimised solutions for saving resources, which in turn increase returns, lower risks and enhance reputations. Ecova is a subsidiary of ENGIE, a worldwide global energy player.
