NUS Consulting Group

Budgeting and Reporting

What makes a good energy budget?

Most large organisations require the preparation of an annual budget detailing forecast energy costs for each facility. These budgets are typically completed in the early part of the last quarter of the fiscal or calendar year. Some organisations, in addition to requiring an annual budget, mandate a certain number of mid-year budget updates.

A good budget forecast has sufficient detail, outlines the assumptions used in construction, and is built on following principal components.

  • Consumption Forecast: An accurate forecast of projected energy consumption, taking into account both operational and equipment changes at the facility
  • Rate/Tariff (Regulated Markets): In regulated markets, a review of the applicable tariffs and any proposed/expected changes.
  • Commodity Price (Deregulated Market): In deregulated markets, The applicable weighted average price (WAP) of hedged commodity purchase and a forecast (typically the applicable futures curve prices) for the unhedged portion.
  • Non-Commodity Charges (Deregulated Market): In deregulated markets, the aggregate non-commodity charges applicable to the particular site for facility.

Let NUS build you a detailed and accurate budget.

For businesses enrolled in one or more of NUS’s Invoice Processing, NUSdirect, and Contract Procurement services, the good news is we already possess most of the information needed to create a budget. With a small amount of additional information, our analytical team can quickly and seamlessly create a budget, saving your team significant time and resources.

For others, NUS can efficiently coordinate with your internal team to acquire the information required to construct a budget. There is a bit more work upfront, but the result will be a detailed and accurate budget which can be presented to management with confidence.

Tracking your budget with NUSdirect.

For businesses that have subscribed to our NUSdirect EiS Service, the system includes a Budget and Reporting Module that will allow for the current tracking of actual invoice data against your budget forecast. Moreover, the budget Module provides users with important information as to where you are above or below your budget and what is the underlying cause of the deviation.

With our support, your budgets will provide management valuable and actionable insight and make surprises a thing of the past.

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