FSR May 2023

Your Take

ANDREA WILKINS

ADOBE STOCK / IGS ENERGY

pletely manage, this analysis. As for quick swaps that will make a major impact, consider retro tting your restaurant(s) with LED lighting. Today’s LED lights are even more energy e cient, consuming up to 90 percent less energy than incan descent bulbs. e perks of being proactive When managing your energy contract, procrastination is not your friend. In fact, you may want to consider your options long before your energy contract is up for renewal. Future energy prices uctuate. During periods of volatility, “waiting it out” may seem like the most appealing (and smart) choice. It’s important to work with an energy supplier who o ers contract options of multiple lengths and is proactively mon itoring and modeling the market to fur ther optimize energy strategies. Adding certainty to your restaurant operating budget by locking in your rate is not only doable, but highly recommended based on current market trends. Andrea Wilkins is the senior man ager of commercial and industrial sales for IGS Energy. In her 12-year career at IGS, she’s focused on helping restau rants develop the most e ective energy strategies for their unique needs. IGS has worked as the direct supplier for the Ohio Restaurant Association, and works closely with restaurants such as J. Liu Restaurant & Bar and Berardi’s Restau rant to develop cost-saving sustainabil ity strategies.

BEING ABLE TO FLEX YOUR ENERGY LOAD THROUGH EFFICIENCY SOLUTIONS IS ONE OF THE SIMPLEST WAYS TO REDUCE YOUR ENERGY SPEND, ANDREA WILKINS WRITES.

record highs in 2022. Despite this decline, energy prices this year will still be 75 percent above the average over the past ve years. e good news? Unlike eggs, you can lock in the price of your energy. And cur rent low prices o er a big opportunity. By working with your energy partner on your strategy ahead of time, you can make decisions quickly when the mar ket is most favorable. Restaurants that locked in their rate when the market was lower than it is today know all too well the bene ts of being proactive. In collaboration with my team’s mar ket experts, I’ve helped educate my res taurant customers to spot opportuni ties and make moves at the right time. One customer—a restaurant located in northeast Ohio—was seeking more con trol over their energy costs, which rep resented a signi cant portion of their overall operating expenses. Another cus tomer, with two restaurant locations in central Ohio, wanted greater insight into changes in the market. Both were able to save money by taking a proactive approach to energy management. By partnering with an energy sup plier that has strong market expertise,

you can take advantage of proactive mar ket monitoring and adjust your strategy over time. Taking control of your energy costs Another e ective energy strategy for res taurants? E ciency. About half of your restaurant energy bill is driven by your energy demand, which is a measurement of your largest interval of power used during the billing period. (Consumption, on the other hand, is a measurement of the total quantity of power you used dur ing that billing period.) e demand you’re billed for is the peak amount of power used at any one time during your billing period. You aren’t charged for demand during the times when you’re using less than the peak amount. Energy e ciency e orts typically help you save money by low ering the demand required to run your operations. In turn, being able to ex your energy load through efficiency solutions is one of the simplest ways to reduce your energy spend. To get started with an e ective energy efficiency strategy, it’s important to understand your energy data. Some energy suppliers can support, or com

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MAY 2023