UA | Fixing Energy Costs

Fixing Energy Costs

24 May 2024

Managing budget security can be particularly challenging for smaller charities. In recent years, we have all witnessed significant fluctuations in energy costs, making it difficult for charities to budget accurately. With Small Charity Week approaching, we would like to highlight the advantages of fixing energy costs. Sally-ann Beaver, Sales Director, discusses how fixing energy costs can effectively assist charities in budgeting and planning for the future.

Utility Aid proudly supports Small Charity Week, a national campaign run by NCVO to empower the UK's small charities to have an even greater impact on society and address their challenges.

As a trusted supplier of NCVO, we recognise the vital role that charities play in addressing societal issues and making a positive impact on people's lives. However, managing a charity can be challenging, and controlling costs is crucial for ensuring that the organisation operates effectively. One of the most significant costs for many charities is energy. Therefore, fixing energy costs can be an effective way to help charities manage their budgets and plan for the future. Sally-Ann Beaver, Sales Director for Utility Aid, explains why.

In recent years, we have witnessed significant fluctuations in energy costs, posing challenges for charities to budget accurately. Sarah Vibert, the Chief Executive Officer of NCVO, highlighted this in The Road Ahead 2024 report. “We predict the current tough economic climate for charities will continue through 2024. Both high inflation and interest rates will present challenges for organisations already juggling increasing operating costs and record demand for services.”

Managing budget security can be especially challenging for smaller charities that may not have large reserves to fall back on if unexpected energy costs arise. By fixing energy costs, charities can plan their budgets with more certainty and have greater control over their expenses.

Another benefit of fixing energy costs is that it can help charities to be more sustainable. Many charities are committed to reducing their carbon footprint and becoming more environmentally friendly. By locking in energy costs, charities can budget for renewable energy sources, such as solar or wind power. Although this may require a higher initial investment, it can provide long-term savings and environmental benefits.

In addition to budgeting and sustainability benefits, fixing energy costs can also help charities to be more efficient. When energy prices are uncertain, charities may have to make reactive decisions, such as turning off heating or cooling systems to save money. However, these decisions can negatively impact staff and service users' comfort and well-being, and potentially damage equipment or facilities. By fixing energy costs, charities can plan for energy usage without worrying about unexpected spikes in bills, ensuring that staff and service users are comfortable and facilities are maintained appropriately.

Finally, fixing energy costs can also provide charities with greater financial stability. Unpredictable energy costs can be a significant financial burden, making it difficult for charities to invest in other areas, such as staff training or service delivery. By fixing energy costs, charities can plan for energy expenses, freeing up resources to invest in other areas.

In conclusion, implementing fixed energy costs can offer substantial benefits for charities. By granting charities more control over their expenses, facilitating the planning of renewable energy sources, ensuring efficiency, and providing financial stability, fixed energy costs can help charities concentrate on their core mission and have a more significant impact on the world. Charities should consider collaborating with energy suppliers to explore fixed pricing options and capitalise on the associated benefits.

Would you like help fixing your energy costs? You can click here and an energy expert will get in touch to help you.