Your power bill invoices are due every month, and many businesses make the mistake of believing they are being billed correctly. Some organizations, in fact, have an account management staff in place to monitor and record their invoices each month. This offers firms the false sense of safety that their invoices are being inspected every month to guarantee they are proper.
A utility audit is a thorough inspection of all-electric, gas, water, and sewage accounts. The audit identifies billing errors and assesses the effectiveness of rate plans. Unfortunately, the majority of individuals are unaware that a utility and telecom audit is even a possibility. So, today, we’ll go over what a utility audit is and how it might benefit you.
What is the Purpose of a Utility Audit?
A thorough bill audit entails digging deeper into your utility accounts to ensure that the utility providers are charging you at the lowest feasible rate.
The purpose of an audit is to guarantee that your accounts are at the most advantageous rates depending on your:
- Load distribution graph
- Usage time
- Business type
However, the focus should not be solely on whether your accounts are on the best rates, but also on things like numerous added charges and riders linked with the electric bills.
The frequently overlooked unnecessary costs that lead to higher expenses that can at times last for multiple monthly invoices being another key factor.
What Does a Utility Audit Include?
A utilities and telecom audit consists of three parts:
Research – We review all service agreements and your billing history to gain a comprehensive picture of not just what you’re now paying for but also what your genuine service needs are.
Review – We undertake a remote evaluation of all elements of your utilities and telecommunications procedures. We interact with site managers to resolve service issues, and we contact your service providers if there appear to be billing problems.
Recommendation – We provide your customized solutions after assessing your services. We may be able to bargain your contracts or offer other, less costly service providers. We will execute the ideas on your behalf only after you have given us your complete permission.
This approach is designed to identify every possible savings opportunity accessible to you to cut and remove costly or excessive utility and telecom services.
There are hundreds of utility audits out there, but we all have the same goal: to save our clients money on utility and telecom costs. Specific methods may change from auditor to auditor; therefore, the audit process described below may not accurately represent the methodology of every auditor.
How Can Applied Utility Auditors Help Your Business?
If you are looking for a utility audit in New Jersey, we are the right choice for you.
We begin our utility audit procedure by gathering all of the papers required to examine your utilities. First, we require a year’s worth of utility bills, including electric, gas, water, and sewage. It may feel like a long time, but it is vital. Looking at the last 12 months of data provides us with the background we need to determine your current bench line expenses.
We may usually begin with only the most recent invoice copy for each account and then obtain previous invoice copies from your utility vendor’s online billing site. Most businesses can provide us with invoices or log-in credentials within a few hours.
Once we have all of the relevant documents, we compare the energy use figure to the current meter reading. If there is a mismatch between these figures, it would be the first sign that anything is wrong. We seek billing mistakes. Looking into the last year’s spending trends reveals a lot more about price variation.
After reviewing the documents, we may take a step back and assess rate structures, patterns, and tax exemptions. Many businesses have unproductive rate structures, and you may be unaware that alternative rate structures are accessible to you. Therefore, we examine all options available to you to help you stop overspending.
Our utility audits identify the areas where you’re overpaying and the remedies you’ll need to cut back. In addition, we give you extra savings potential after reviewing all of your utility and telephone bills.