There are many drivers affecting the cost of electricity. The increase in prices is closely linked to the emission of carbon dioxide on international markets and the severe weather. How do these rising prices affect the industry?
Without a doubt, we are facing a clear threat to industrial competitiveness. Electricity costs in the last year have risen by 13% compared to the previous year, an increase that could even be worsened by the change in tariffs and taxes on the energy bill.
All these threats, together with the obstacles posed by the current health crisis, the rising cost of raw materials and the increase in maritime freight rates, place the industry at a critical juncture. Further widening the gap between European companies and non-EU trading partners. Take a closer look at the graph below, which shows the 5 countries with the highest cost per KWh:
Although the ranking is worldwide, the 5 countries with the highest hourly energy consumption prices belong to the European Union. This underlines and proves that industries belonging to the European market face a clear threat to their competitiveness compared to non-European industries whose costs are much lower.
The taxation of energy prices globally and specifically in the European Union is a major barrier. However, various strategies and ways have been developed to improve energy efficiency of production processes in order to reduce the impact of prices on their energy costs.
Energy efficiency is the solution
Energy efficiency refers to the optimisation of energy consumption in order to achieve certain levels of service and comfort. Thus adjusting electricity consumption to the needs of the company or implementing mechanisms that will allow you to save energy, and even avoid losses in the production process.
Electricity consumption is higher in the northern hemisphere, even reaching 51,297 KWh, as is the case in Iceland. Although some of these countries do not have prices as high as those mentioned above, given their high energy consumption, it is convenient to establish the bases of energy efficiency to reduce consumption and use only the energy that is really necessary for the operations.
Below you can find a map with the countries that consume the most electricity and therefore would benefit from implementing energy efficiency strategies in their industrial processes.
Activating energy efficiency has become a priority on the agendas of industries, governments and households around the world. Traditional energy sources are becoming increasingly limited, making them more expensive and generating dependence on the foreign market.
Businesses and administrations are continually trying to implement efficiency measures to make companies more sustainable and reduce their over-consumption.
How to reduce excess electricity consumption in the pumping equipment sector
Having analysed the data, here are the measures you can take to reduce the cost of your electricity bills.
If you have large pumping equipment, that is several years old or pumps that are in constant operation, you know that trying to reduce your consumption by even 1% can have a positive impact on your company. To achieve this, the secret lies in the parts you buy for your equipment.
The reason is simple. The key is in the polishing of the hydraulic parts you use, since the better the super finish, the better your pump will perform and the less energy it will need to consume to produce.
By obtaining higher quality parts, you optimise your production processes while reducing the cost of your electricity bills.
Now you know the secret, what are you waiting for?