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Energy Management: Key Strategies for Companies to Stay Competitive in a Volatile Market

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Energy Management Utility Bidder

Managing resources efficiently is essential for businesses aiming to maintain a competitive edge. Rising energy costs, fluctuating commercial gas prices, and increasing business electricity tariffs can significantly impact profitability. A successful energy management strategy helps companies control business energy bills, optimise usage, and implement energy-efficient measures.

Utility Bidder has shown how proactive energy management can support businesses in achieving financial stability and sustainability. This article explores the significance of energy management and shares actionable strategies to help businesses improve energy efficiency and reduce energy costs.

Why Energy Management is Crucial for Business Success

Energy management is central in determining how businesses perform in the long run. With energy supply becoming more unpredictable and energy costs rising, organisations that fail to adopt effective energy-saving measures risk falling behind.

Efficient energy usage impacts financial health and aligns with growing consumer demand for sustainable practices. Implementing efficient appliances and equipment allows companies to cut operational costs and demonstrate their commitment to reducing environmental footprints.

Consider the challenges businesses face with rising business gas and business water prices. For example, the recent increase in electricity tariffs has forced many companies to reevaluate their energy consumption patterns.

According to a report, nearly 40% of manufacturing firms’ operating costs stem from energy usage. Implementing strategies like switching to renewable energy sources, utilising energy-efficient equipment, and monitoring air conditioning systems has helped such businesses significantly reduce energy bills.

Key Energy Management Strategies

Conduct Regular Energy Audits

An energy audit provides a comprehensive view of energy consumption and identifies inefficiencies. For instance, a retail chain conducted a detailed audit and discovered that outdated lighting consumed 20% more energy than modern LED alternatives. After implementing energy-efficient measures, the company saved over $15,000 annually.

Upgrade to Energy-Efficient Appliances and Equipment

Investing in efficient equipment is a proven way to reduce energy costs. Appliances with high energy efficiency ratings, such as ENERGY STAR-certified air conditioning units, can lower energy bills while enhancing performance. Upgrading HVAC systems can save businesses up to 25% on energy costs annually.

Monitor and Optimise Energy Usage

Advanced monitoring systems allow businesses to track energy consumption in real-time. Companies can identify peak usage periods by analysing patterns and adjusting operations to save money. For example, a manufacturing plant reduced energy consumption during non-peak hours and cut costs by 15%.

Embrace Renewable Energy Sources

Adopting renewable energy can shield businesses from volatile commercial gas prices. Solar panels, wind turbines, and geothermal systems are excellent options for companies looking to reduce dependency on traditional energy supply sources. A logistics firm, for instance, reported a 30% reduction in energy bills after installing rooftop solar panels.

Train Employees on Energy-Saving Practices

Encouraging employees to adopt energy-saving habits is another effective strategy. Turning off equipment when not in use and maintaining optimal thermostat settings are simple yet impactful steps. A case study showed that such practices saved a company over $10,000 in annual energy costs.

Negotiate Competitive Energy Contracts

Collaborating with suppliers to secure favourable rates can help businesses manage energy spending effectively. For example, businesses that actively compare commercial gas prices can often secure deals that align with their energy needs and budget. As highlighted here, the impact of rising electricity tariffs on businesses underscores the importance of such proactive measures.

Energy-Saving Practices

Use Technology for Automation

Automation tools such as smart thermostats and motion-activated lighting systems improve energy efficiency by adjusting settings based on real-time data. Companies using such tools report significant cost savings while maintaining operational efficiency.

Practical Insights

Strategy Potential Savings Example
Upgrade Lighting 20-30% reduction in costs LED replacements for offices
Renewable Energy Adoption 25-40% savings Solar panels for warehouses
Real-Time Monitoring 15% reduction Smart meters in retail stores
Negotiated Energy Contracts 10-20% cost reduction Customised deals for business electricity
Employee Training $5,000-$10,000 savings Awareness campaigns for energy efficiency

To further cut costs, businesses can explore additional opportunities as described here.

Benefits of a Successful Energy Management Strategy

  1. Cost Savings: Improved energy efficiency measures lower operational costs and helps businesses reinvest savings in growth opportunities.
  2. Environmental Impact: Embracing renewable energy sources reduces carbon footprints and meets sustainability goals.
  3. Operational Resilience: Optimised energy usage ensures businesses can handle market fluctuations without compromising performance.

Final Words

Energy management is no longer optional for businesses thriving in a volatile market. A thoughtful approach to energy usage, from conducting audits to investing in energy-efficient equipment, can help companies reduce energy spending and achieve long-term sustainability.

FAQs

  1. How can small businesses benefit from energy management?

Small businesses can lower energy bills by adopting energy-efficient appliances and negotiating cost-effective contracts. These practices improve operational efficiency and reduce overheads.

  1. Are renewable energy sources viable for all industries?

Yes, industries like retail and manufacturing benefit greatly from solar panels and wind turbines. They are scalable and can be customised to meet energy needs effectively.

  1. What tools help in monitoring energy consumption?

Smart meters, energy management software, and IoT-enabled devices provide real-time data, enabling companies to adjust usage patterns and save money effectively.

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SERAP in Court to Force INEC to Account for N55.9bn for 2019 Elections

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By Modupe Gbadeyanka

The failure of the Independent National Electoral Commission (INEC) to account for about N55.9 billion earmarked for the purchase of some materials for the 2019 general elections has forced the Socio-Economic Rights and Accountability Project (SERAP) to file a lawsuit against the commission.

In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP asked the court for an order of mandamus to compel INEC to disclose the names of all contractors paid the sum of money.

It was claimed that the N55.9 billion was meant for the purchase of smart card readers, ballot papers, result sheets and other election materials for the 2019 general elections, which produced the late Mr Muhammadu Buhari as President for a second term in office.

SERAP is relying on the latest annual report published by the Auditor-General on September 9, 2025, to ask for the use of the funds, which is said to be missing or diverted.

The organisation argued that the electoral umpire “must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”

“INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered,” a part of the statement issued by the group stated.

“INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.

“These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law,” it further declared.

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Finance Ministry Directs Shippers, Airlines to Submit Manifests via Single Window Project

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NLNG Shipping Arm

By Adedapo Adesanya

The Ministry of Finance has directed all shipping companies and airlines operating in Nigeria to submit their manifests through the Single Window Project (SWP) as part of efforts to strengthen cargo tracking and transparency.

The submission of shipping manifests before the change of policy was handled exclusively by the Nigeria Customs Service (NCS) for onward cargo processing and port clearance.

However, following a memo from late last year signed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, all shipping firms and airlines were directed to integrate with the National Single Window platform to ensure seamless Manifests submission.

“I would like to bring to your attention that His Excellency, President Bola Ahmed Tinubu inaugurated the National Single Window (NSW) Project on the 16th of April 2024.

The NSW Project aims to streamline and automate import and export processes at Nigeria’s entry & exit ports, with the dual goals of enhancing trade facilitation and increasing government revenue.

“By integrating the operations of multiple government agencies involved in trade processes on one platform, the NSW platform will ensure faster clearance of goods and services, improve operational efficiencies at the imports and significantly reduce bureaucratic bottlenecks.

“Key components of the Single Window as defined by the World Trade Organisation (WTO) and World Customs Organisation (WCO) include: (a) a single-entry point i.e. traders, shipping lines, airlines and other stakeholders should submit all required import and export documentation through a single-entry point on a centralized digital platform, and (b) single submission i.e. all documentation should only be submitted once and data only entered once.

“As a result, the NSW Platform will be the single-entry point of submission for all Sea and Air Manifests. Therefore, all shipping lines and airlines are therefore directed to integrate with the NSW Platform to ensure seamless Manifests submission,” parts of the memo read.

The Comptroller-General of the NCS, the chairman of the Nigerian Revenue Service (NRS), the Managing Director of the Nigerian Ports Authority (NPA), the Managing Director of the Federal Airports Authority of Nigeria (FAAN) and the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) were copied in the memo.

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Dangote Drags ex-NMDPRA Boss Farouk Ahmed to EFCC

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Dangote and Farouk

By Aduragbemi Omiyale

The petition written against the immediate past chief executive of the Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, which was withdrawn from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), has now been taken to the Economic and Financial Crimes Commission (EFCC).

The letter was written by the chairman of Dangote Industries Limited (DIL), Mr Aliko Dangote. It contained allegations of allegations of abuse of office and corrupt enrichment against Mr Ahmed.

The petition led to the resignation of the former NMDPRA chief from office last month.

It was gathered that Mr Dangote, through his legal representative, filed a formal corruption petition against him at the headquarters of the EFCC, with specific plea of prosecuting Mr Ahmed if found culpable.

The businessman said the withdrawal of the petition from the ICPC was a strategic move aimed at accelerating the prosecution process.

 In the petition signed by his lead counsel Mr O.J. Onoja (SAN), Mr Dangote noted that, “We make bold to state that the commission is strategically positioned along with sister agencies to prosecute financial crimes and corruption related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624)337.”

He further urged the anti-money laundering agency, under the leadership of Mr Olanipekun Olukoyede, “…to investigate the complaint of Abuse of Office and Corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting.”

“The commission’s firm resolve in handling this matter with dispatch is not only imperative and expedient but will also serve as a deterrent to other public officers out there with such corrupt proneness and tendencies,” he added.

Recall that on December 14, 2025, Mr Dangote raised concerns about Mr. Ahmed’s financial dealings, alleging that the former regulator is living far beyond his legitimate means.

According to him, four of Mr Ahmed’s children attended elite secondary schools in Switzerland, incurring costs running into several millions of dollars—an expenditure that raises questions about potential conflicts of interest and the integrity of regulatory oversight in the downstream petroleum industry.

Mr Dangote listed the schools attended by Mr. Ahmed’s children: Faisal Farouk (Montreux School), Farouk Jr. (Aiglon College), Ashraf Farouk (Institut Le Rosey), and Farhana Farouk (La Garenne International School), noting that each child spent six years in these institutions. He estimated annual tuition, travel, and upkeep per child at $200,000, totaling approximately $5 million for their secondary education.

Additionally, he alleged that Mr Ahmed spent another $2 million on tertiary education for the four children, including $210,000 for Faisal’s 2025 Harvard MBA program.

“Nigerians deserve to know the source of these funds, especially when many parents in Mr Ahmed’s home state of Sokoto struggle to pay as little as N10,000 in school fees,” Mr Dangote stated.

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