Safeguarding Against High Power Costs with EMC’s Energy Initiatives
High energy costs can significantly impact a manufacturer’s profitability. EMC’s Energy Initiatives grant members access to the expertise of informed energy professionals, allowing them to build sustainable energy strategies and maximize usage of their own power.
Energy usage accounts for a high portion of Canadian manufacturers’ yearly costs, but ever-increasing customer demand can make reducing power prices seem impossible. The manufacturing industry at large recorded a significant spike in energy prices during the latter half of 2021 and, as business leaders head into the uncertain supply landscape of 2022, managing these costs will be a necessity to ensure continued growth and profitability. Fortunately, a solution to high energy costs is readily available for manufacturing leaders — through EMC’s Energy Initiatives, manufacturers of any size have access to a wide variety of resources and sustainability programs geared towards lessening the impact of energy usage and strengthening the efficiency and productivity of existing power supplies. Let’s examine some of the most prominent energy-related issues facing manufacturers today, and discuss how EMC’s Energy Initiatives can provide support.
As experts in energy procurement and retention are well-aware, environmental factors play a major role in the pricing of Canada’s natural gas and related power sources. Unexpected changes during seasons that see extreme temperatures can result in volatile supply fluctuation, which, at scale, can drastically increase a manufacturer’s energy costs. To combat this uncertainty, EMC members can utilize the organization’s Energy Performance Advantage initiative — a collection of informed knowledge and support structures employed by leaders in the energy field. In addition to helping manufacturers build efficient strategies to maximize usage of their current power supply, this program offers a specialized tendering and procurement process, ensuring that market risks are appropriately accounted for and that energy is purchased during periods of financial safety. Through the Energy Performance Advantage initiative, EMC’s council of energy specialists act as a business’s mentor, representative, and administrative body in all matters relating to the purchase and usage of power supplies, providing ongoing support and guidance for energy management decisions.
Inter-continental trade is another important factor in the procurement of energy for manufacturing enterprises. Despite a relatively unchanged supply of energy resources in North America, Canadian imports of these goods from the United States were high throughout 2021, causing import prices to rise accordingly. For businesses that rely on international trade to secure power for their facilities, a timely information channel is crucial — as such, EMC hosts regular update sessions on the state of domestic and global energy marketplaces to keep its members knowledgable about economic trends in these areas. The informed expertise of EMC’s energy specialists provides members with a regular influx of key happenings across the international energy landscape, propagating a keen understanding of power supply issues relevant to Canadian manufacturers. By attending EMC’s Energy Market Updates frequently, and through regular communication with the organization’s energy professionals, manufacturing leaders stay informed on core developments relating to power throughout North America, and can make effective decisions on these matters in their own businesses.
Improperly planned for, high energy costs can harm productivity, profitability, and growth throughout the entirety of a manufacturing organization, potentially resulting in the inability to meet customer demand. By utilizing EMC’s Energy Initiatives, leaders in Canada’s manufacturing sector can ensure that their own power strategies are well-implemented, well-supported, and managed in a way that empowers processes across the production line.
For more on how EMC’s Energy Initiatives can help your business reduce power costs, contact Scott McNeil-Smith, EMC’s Vice President of Manufacturing Sector Performance. Attend EMC events frequently for knowledge and expertise crucial to leaders in the Canadian manufacturing industry.