AlphaBeta launches small business energy cost benchmarking tool
AlphaBeta has partnered with Xero and the Australian Government to launch Small Business Energy Check, an online tool designed to help small businesses reduce their energy costs by benchmarking their expenditure against others like them.
Rising energy costs have been a strain on small businesses across Australia, but it has been difficult for them to take action without an easy way to tell if they are paying more than they need to. A 2018 ACCC report found that 48% of small businesses did not monitor their energy spend, while half were on extended contracts that increased their risk of overpaying.
Small Business Energy Check is based on a statistical model developed by AlphaBeta that draws on anonymised, aggregated Xero Small Business Insights data from hundreds of thousands of Australian businesses. It allows benchmarking down to a very granular sub-industry level, recognising the huge variation in small business types and energy spend. This means that a coffee shop in Wollongong can now see if they are paying more for energy than other coffee shops of the same size, in the same area.
The tool was launched by Minister for Energy and Emissions Reduction Angus Taylor as part of the Government’s Business Energy Advice Program (BEAP), which also includes a one-to-one energy advice service run by the NSW Business Chamber.
Follow the link below to see Small Business Energy Check in action.