Understand the risks & opportunities
Forward-looking companies are making the cost, availability and environmental impact of their energy consumption a strategic priority. And, increasingly, the wider impact of climate change on their markets and operations is being factored into decision-making.
Think about it. Without a reliable supply of energy, it is likely your manufacturing operations would cease to function.
So, what would happen if . . .
- The price paid for fuels suddenly increased?
- The power went off due to a blackout on a hot summer day?
- The utility slaps a huge demand charge on the company for a sudden spike in electric use?
Greenhouse gas emissions are also tied to energy use. Increasingly, customers, shareholders, and other stakeholders want to know how companies are managing their greenhouse emissions. Those unable to address these concerns could lose market share or suffer reputational damage.
Energy exposes your business to significant risks that can be mitigated or prevented. Having an energy program can help you:
- Hedge growing energy costs by improving efficiency.
- Anticipate disruptions to energy supply.
- Enable participation in demand-response programs.
- Reduce your carbon foot print.
- Quickly respond to stakeholder inquiries.
Evaluate your company’s energy risks
- Forecast energy costs for your energy supply.
- Estimate the potential impact of a blackout.
- Examine your electric rates to understand potential demand and other charges from sudden changes in energy use.
- Identify which customers or stakeholders are concerned about your carbon foot print.
- Assess the percent of your company’s greenhouse gas emissions that come from energy use.
Use this information to help illustrate how an energy management program can help reduce energy-related risks.
Energy also can present opportunities. To learn more, read Energy Strategy for the Road Ahead.