For Subscribers

How This Company Is Driving Down Energy Bills

An innovative analytics service promises to give you new power.

learn more about Matt Villano

By Matt Villano

Shutterstock

Opinions expressed by Entrepreneur contributors are their own.

"Most people get an energy bill and just pay it, without asking themselves what they might do to get the costs down," says Joseph Borza. But even if an entrepreneur did ask, they'd likely not know how to find the answer. That's why Borza cofounded his company EnergyElephant: The two-year-old, Dublin, Ireland–based startup's software analyzes utility bills, then comes up with a plan for reducing fees based on local regulations and costs. That might involve rearranging office or factory hours to take advantage of cheaper rates, renegotiating with a utility provider or resolving billing errors.

The service costs €360 (or $397) per month, which seems pricey -- but some early clients say the savings outweigh the price. One customer, the professional association Engineers Ireland, says it has saved a couple thousand dollars so far. And thanks to a Supreme Court decision this year, American companies should be particularly interested in examining their bills: This past January, the court confirmed that if people aren't using power during peak times, they can demand and receive reimbursements from their utility providers. The idea is to incentivize users to reduce energy during peak demand, to avoid blackouts and brownouts. So, now the question: What's in your bill?

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

The Dark Side of Pay Transparency — And What to Do If You Find Out You're Being Underpaid
Thinking of a Career Change? Here Are 4 Steps You Can Take to Get There.
A Founder Who Bootstrapped Her Jewelry Business With Just $1,000 Now Sees 7-Figure Revenue Because She Knew Something About Her Customers Nobody Else Did
Everything You Need to Know About Franchise Law
Business News

Amazon Is Starting to Let Customers Know What Products Are Returned Often

The e-commerce giant has begun flagging certain items that were frequently sent back.

Marketing

Get Customers to Fall in Love With Your Company With These 3 Disney Marketing Tactics

For startups struggling to capture the attention of potential customers, connect with them and build credibility in today's fast-paced business world, Disney's marketing can teach you a few valuable lessons. Ready to join this rollercoaster ride?

Employee Experience & Recruiting

5 Types of Toxic Employees and How to Deal With Them (Infographic)

When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. Here's how to do the latter, like a boss.

Business News

The Largest Egg Producer in the U.S. Saw Profits Increase By 718% Amid Soaring Prices

Cal-Maine Foods brought in over $320 million in profit for the quarter ending in late February 2023.