Whether you manage a regional or local bank, budgeting your expenses is crucial for day-to-day operations. Cutting down operational costs can mean offering lower interest rates or more perks for your customers and clients—especially in the Tar Heel state. But, how do you cut costs in today’s economic market? One area we suggest you look into is your electricity use and energy bills! While you might not have complete control over how much energy you use, you do have some control over how much you pay for that energy.
For bank owners or managers in North Carolina, you now have control over the rate at which you pay for electricity, and you can switch companies to receive a lower rate or better customer service—all thanks to energy deregulation for commercial electricity!
How Banks in NC Use Energy
Your property uses electricity with almost every operation, including:
- Computers and pin pads
- Security cameras and monitoring devices
- Internal and external ATMs
- Drive-thru intercom and delivery tubes
- Digital signage
- Heating and cooling
- And more
Do you know how much electricity your bank uses each month? Even more importantly, do you know how much you pay for that energy? Knowing your energy use and buying habits is crucial in a deregulated energy market—or you could be wasting hundreds each month with a higher rate contract.
Electricity Deregulation & Benefits for Banks
By looking into your electricity rates with suppliers in North Carolina, you are given the opportunity to take advantage of a competitive market and lower rates. Even saving a few pennies on your kWh (kilo watt per hour) rate can save your property hundreds or thousands on the bottom line each year.
When managing or owning a bank in NC—whether from the home of Wells Fargo and Bank of America in Charlotte all the way to the State Employees Credit Union (SECU) located alongside the beaches of Wilmington—you have the option to select from multiple service providers for your electricity. You aren’t bound to any specific company, but you’ll still receive reliable service with no interruptions if you do choose to switch providers and enroll with UGI EnergyLink. The purpose of electricity deregulation is to offer lower prices and increase customer satisfaction for business owners like you, by introducing competition into the market.
When is the last time you looked at your electricity rate compared to the competitive NC market? Call us today at 800-797-0712 to find out how much you could save with UGI EnergyLink!
Ohio Electricity Supplier for Banks
At UGI EnergyLink, we’re here to help you make the best energy decisions for business. We have over 127 years of experience providing electricity to banks and other financial establishments throughout North Carolina and can provide you with the opportunity to save money on your monthly energy bills when you switch!
As a result of electricity deregulation, UGI EnergyLink can offer two pricing arrangements for you and other commercial electric customers: fixed pricing and variable rate pricing.
Fixed pricing is an excellent option for property managers who must meet specific budget criteria with a constant price for the entire period.
Variable Rate Pricing
Variable rate or indexed pricing is suitable for owners who are able to accept some level of risk by taking advantage of market pricing. Wholesale market conditions will dictate whether rates go up or down.
To determine the best electricity pricing option for your NC property, we will:
- Review your current buying habits—including an analysis of your month-to-month usage and seasonal fluctuations
- Develop a plan for purchasing electricity at more favorable rates or terms than you might get with your utility company or electricity marketer