California's Summer Electricity Rates in Effect Today
As of today, June 1, California's summer electricity rates are in effect and this could have a major impact on businesses in the state that are not prepared.
In the peak hours between 4-9pm, electricity costs could skyrocket by up to 300%. For the next four months (or five for those in SDG&E territory), these high costs could put a serious dent in an organization’s financials.
Amidst the current context of soaring inflation, it's crucial to note that utility bills in California have been increasing at a rate far exceeding inflation over the past 10 years, with a dramatic acceleration in the last five. Indeed, bills have increased by approximately 42% since 2021.
This trend, combined with the onset of summer rates, means it could get ugly pretty fast for any business not actively managing energy consumption.
Here are some quick tips to help you reduce energy waste and mitigate spiralling costs:
Shift Energy-Intensive Operations: If possible, reschedule high-energy tasks to non-peak hours to avoid the highest rates.
Invest in Energy-Efficient Equipment: Upgrading to energy-efficient devices can reduce your energy consumption and, in turn, your utility bills.
Regular Maintenance: Ensure your HVAC and other systems are functioning efficiently. Regular maintenance can prevent energy waste.
Consider Renewable Energy: Solar panels can help reduce utility costs from anywhere up to 80%. New breakthrough bi-facial panel technology is also arriving at just the right time.
Remember, every kilowatt saved is money in your pocket. Let us know if we can help you manage your energy costs this summer.