What Is an Energy Policy and Why Should It Matter to Your Business?

Q: As a Senior Energy Manager, why do you think businesses should have an energy policy?

Well, there are actually several good reasons. Not only can it improve a business’s reputation, but it can also help a business meet regulatory requirements, become more resilient and save money. So, it’s worth considering.

Q: That makes sense. How can an energy policy help a business’s reputation?

In today’s world, stakeholders are increasingly concerned about the environmental impact of the products and services they buy. Businesses can use an energy policy to demonstrate their commitment to sustainability to gain a competitive advantage. 

An energy policy can significantly impact a business’s reputation in a positive way. By implementing an energy policy that prioritises sustainable and renewable energy sources, a business can contribute to their carbon reduction target.

This sends a strong message to consumers, employees, and stakeholders that the business is socially conscious and committed to creating a better world for future generations.

Q: That’s interesting and something we’re seeing more and more of. When it comes to regulatory requirements, where does an energy policy fit in?

So, many regulations have been introduced to reduce greenhouse gas emissions and promote energy efficiency, and businesses that fail to comply with these regulations may face fines or other penalties. But by implementing an energy policy that aligns with these regulations, a business can ensure that it is meeting its legal obligations and avoid potential issues.

Q: And what about the idea of resilience? How can an energy policy help businesses become more resilient?

Well, having an energy policy can help reduce reliance on energy from the grid and promote investment in renewable energy sources. Businesses can ensure a stable and affordable source of energy, even in the face of unpredictable energy markets, helping them become more resilient in the face of energy supply disruptions or price spikes.

Q: Yes, if the last year has shown us anything, it’s how volatile the energy markets can be. The last thing you said was that an energy policy can help businesses save money. Can you expand on this?

Of course, by implementing an energy policy, you can identify areas where energy consumption can be reduced, and ultimately lower your energy bills and improve your bottom line. By setting targets and tracking progress towards these targets, businesses can ensure that energy-saving measures are being implemented and that they are achieving their desired results. This is something we’ve helped many businesses do, and has saved them hundreds and thousands of pounds.

Q: I see. Well, thank you for the insight. If I wanted to develop an energy policy for my business, where would I start?

Great question. We actually have an energy policy template that provides you with a roadmap to a sustainable and efficient energy management plan. It’s a great starting point. But I will add that our team of energy managers can help you turn your energy policy into action, so please do get in touch – we’re here to help!