Inaccurate Utility Bills Hurt Your Business

Why Are Your Utility Bills Inaccurate?

When measuring the amount of energy your facilities use, it can be challenging to ensure the quantity you’re being billed for is correct. Between the massive amount of energy most businesses require to sustain themselves and the energy industry’s ever-changing rates, it almost feels as if utility rates are obscured. At RateAcuity, we’re here to help you work through the confusion, ensure your bills are accurate and fix inaccurate utility bills.

 

What Are Common Utility Bill Errors?

From incorrectly calibrated utility meters to inaccurate rate formulas, your utility bill may be inaccurately inflated for many reasons. You may be able to reduce your utility billing by paying attention to the following elements of your setup:

  • Problems with your utility meter: Many meters suffer from communication failures, installation errors or a combination of the two. Since meter installations aren’t frequently verified, your meter may be inaccurately installed and therefore give incorrect readings. To ensure your utility meter is operating correctly, have your utility company check your meter annually.
  • Meter reading inaccuracies: Though your meter may run flawlessly, there may still be issues with your meter’s reading capabilities. This kind of error frequently goes unnoticed due to the little money it costs and therefore requires a careful eye on your energy bills. To check if your meter readings are inaccurate, consider collecting real-time data through pulse outputs and making sure they reflect your business’s energy consumption accurately.
  • Inaccurate rate formulas: Energy rate formulas are no easy thing to calculate. Your rate may change drastically depending on the season or time of day, and these complexities and ever-changing factors can lead to a plethora of mistakes. By employing real-time data analytics, you can see when your energy consumption spikes and verify that your bill at the end of the month matches your business’s consumption.

 

What Can You Do If Your Rates Are Inaccurate?

Understanding if your rates are accurate is the first step to taking charge of your energy rates and reducing your bill. When you find your energy rates are incorrect, you can start by enacting the following steps:

  • Collect and analyze real-time consumption data: Before you go to your energy company, ensure you have the statistics necessary to back up your assertion that your bill is too high. At RateAcuity, we give you the needed data to make your case and reduce your bill.
  • Talk directly to your energy company: Your energy company has the resources to ensure your utility meters are operating correctly and giving you the correct readings. After showing your energy company these inaccuracies, you can easily acquire a more accurate rate.
  • Shop around for better companies and rates: Now that you’re armed with the most up-to-date data on your business’s consumption rates, you can shop around for better utility companies and rates.

 

How Can RateAcuity Help You With Our Accurate Database? 

At RateAcuity, we give you the insight necessary to transform your energy consumption data into action plans that help your business take back its finances and stop overpaying for energy. Our reliable, accurate and up-to-date information is presented in easy-to-understand formatting so you’re always on top of your energy consumption. We offer two data options for your existing workflow:

If you’re ready to transform your energy consumption and analyze your business’s trends and patterns, contact us to learn about our latest products today.

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