The Commission for Regulation of Utilities has announced steep hikes that will add to the strain on Irish businesses. Business owners and operators are left scratching their heads, asking – how can we execute sustainability plans with these increases? UrbanVolt can give power back to businesses, relinquishing capital that would be otherwise spent on increased service bills.
Last week, the Commission for Regulation of Utilities (CRU) announced that its 3-year price freeze will expire next month. Changes are being made based on the volume of water consumed and wastewater produced, portioned out on business sizes. Five separate tariff classes will apply to metered connections for the provision of water supply services. Four separate wastewater tariff classes will apply to metered connections for the provision of wastewater services. These price changes will come into effect on the 1st of October, 2024.
This news is of particular concern to businesses in specific industries that consume large amounts of water, including Agriculture, Meat Production, and Beverage Production. Sligo-Leitrim TD Marian Harkin has warned that vulnerable farm enterprises are being “dealt a further blow” with the recent decision by the CRU. “The average annual farm income has declined by 20% in the same period and now stands at a paltry €20,000,” she said, highlighting the immediate importance of saving money in the immediate future.
The costs incurred have left many businesses in the Farming and Beverage sectors at a loss in how to allocate their budgets. According to one distillery, who asked to remain anonymous, they are facing an increased rate of 77% compared to previous costs per unit. “We are trying to adapt to a lot of business challenges – from high electricity prices to consumer demands for greater sustainability, this is just another challenge that we are going to have to adapt to.”
Given estimates that businesses will need to allocate 4% of their profits towards sustainability plans alone, many are asking how to achieve noble commitments of net zero by 2050 or even 2030. “In truth, we had a sustainability plan that we had to achieve for members of our supply chain.” UrbanVolt was able to provide the distillery with cost savings on their electricity while their utilities continued to climb – Net Zero at zero cost.
UrbanVolt can give power back to your business to save you money and improve your operating costs. If you are interested, reach out to a member of our sales team here
Author: Will Penn | Energy Associate Manager | UrbanVolt