El Niño, high natural gas production and the US Supreme Court upholding FERC Order 745 have all helped keep energy prices at a historic low this winter, leaving you to wonder how much longer you have to cash in on cheap power.
There’s no better time to look for ways of improving your procurement strategy, and one we’re seeing many businesses add to theirs is green power.
With rapid reduction in development costs and improved performance, green power has become accessible to companies as a way to lower costs and effectively manage price risk, improve their corporate image, and better engage with customers and the millennial workforce. Here’s how:
1. Lower Your Energy Costs and Manage Price Risk
The growing supply of renewable energy in recent years has been driving prices down and performance has quickly improved across all technologies. Utilities are now offering very attractive power purchase agreements to companies that can’t (or don’t want to) install renewables on their premises.
2. Improve Corporate Image
No matter the size of your company, your stakeholders (whether investors or customers) keep demanding that you become more sustainable. However, some of them have grown skeptical as more and more companies make commitments but don’t deliver. Introducing green power to your energy mix is an easy way to prove that your commitment to sustainability is real.
3. Engage the Millennial Workforce
It is very clear by now that millennials entering the workforce expect companies to have strong environmental policies and energy consumption is at the top of their minds. Buying renewable energy will help you attract talent, engage employees and as a result, increase productivity.
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