What is a utility audit?
- 1. What is a Utility and Telecom Audit? Presented by: Andrea Suarez
- 2. 80% of companies are overpaying for their utilities and telecom services; you don’t have to be one of them.
- 3. Our utility audits find the ways you’re overspending and find the solutions you need to stop.
- 4. Most people aren’t aware that a utility and telecom audit is even an option for them. So today, we’re going to discuss what a utility audit is, and how it can help you.
- 5. What is a utility and telecom audit?
- 6. A utility audit is an extensive analysis of all electric, gas, water and sewer bills. The audit finds billing discrepancies and reviews rate plan efficacy.
- 7. There are three parts to a utility and telecom audit: - Research - Review - Recommendations
- 8. This process is tailored to find energy savings opportunity available to you to reduce and eliminate expensive or inefficient services.
- 9. Specific processes may differ from auditor to auditor, so the audit process we describe below may not describe every auditor’s approach.
- 10. Research: Gather Needed Information for Audit
- 11. In our utility audit program, we first gather all the documents they need to review your utilities.
- 12. We need 12 months of bills for all utilities: electric, gas, water, and sewer.
- 13. Looking at 12 months of history gives us the context we need to evaluate what your bench line costs currently are.
- 14. We are typically able to get started with just the most current invoice copy for each account and then pull the historical invoice copies from your utility vendor’s online billing portal.
- 15. Most companies are able to get us invoice or log on information in just a few hours.
- 16. Review: Examine All Utility and Telecom Bills and Options
- 17. Once we have all necessary documentation, we do the following for each location or property:
- 18. 1. Analyze the energy usage number vs. the current meter reading. 2. Look for billing errors.
- 19. After we’ve reviewed the documentation, we’re able to take a step back and evaluate rate structures, trends, and tax exemptions.
- 20. A lot of companies have inefficient rate structures - and you may not know that better rate structures are available to you.
- 21. We look at all opportunities available to you so you can stop overspending.
- 22. We also evaluate growth rate trends. Price jumps may happen seasonally, as with electric bills.
- 23. But there can be other reasons for utility price hikes.
- 24. The utility supplier may have made a mistake, or you may have just renovated one of your buildings.
- 25. A third-party auditor will find the delineation between charges that are fair and those that are questionable.
- 26. A good utility auditor won’t just stop with examining bills, rate structures, and trends. They’ll also look into tax exemptions.
- 27. Different cities and states have different exemption opportunities in place. A good auditor will know what’s right for you.
- 28. Recommendations: Take Advantage of Savings Opportunities
- 29. After we’ve looked over all of your information and reviewed additional savings opportunities, we present our findings.
- 30. We always show the bottom line: how much you can potentially save in each area by taking these recommended steps.
- 31. And based on your unique situation, we may show you some or all of the following: - Different vendor recommendations. - Rate structure options. - Tax Exemption options. - Credits due.
- 32. The findings vary, but we identify cost reduction opportunities for over 80% of the companies that engage in our services.
- 33. Most of our audits take 30-90 days, depending on how many locations are in your portfolio.
- 34. You may not have the time or expertise to complete a thorough utility audit, but you can absolutely reap the benefits of one.
- 35. Utility audits can massively benefit your bottom line - and can ease any residual fears you may have about billings mistakes and price spikes.