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Home Energy Savings - Published:
January 21, 2015 - Updated:
July 6, 2021
3 Steps to Budgeting Long Term for Your Electricity Spend
At Constellation, we understand that budgeting for a small business can be a major undertaking. The energy that powers your business is a large expense that factors into your long term budget. But determining your budget doesn’t have to be a major task. Follow these three steps to help you establish your energy budget.
1. Talk to a Constellation representative. As your energy ally, Constellation can help you decipher the differences between all of your options and assist you with choosing the best energy product for your budget. It’s our job to make sure you fully understand what you’re buying.
2. Choose a term that meets your long term budget requirements. For some businesses, the duration of the term is as important a budgetary consideration as the price per kWh. At Constellation, we understand our customers have different energy needs, so we offer a variety of contract term lengths, including 1, 2, 3 and even 4 year terms. Locking in for an extended term will allow you to create a long term budget for your small business’s energy.
3. Understand your energy consumption. Create your monthly budget based on your historical usage and energy spend. Remember: Although a fixed rate locks in your price per unit of energy, the price on your monthly bill depends on your energy usage. The more energy you use, the more you will pay.
At Constellation, establishing a long‐term energy budget is relatively simple. Once you know what you’re comfortable with, all you have to do is choose your product, lock in your term, and create a budget based on your past energy usage. And remember, whenever you have questions, we’re always here to help.
