As we all know, the energy markets are in crisis and electricity prices are at a record high. The energy market in Europe is under considerable pressure, which will severely affect many companies and individuals this winter. Fabege is no exception.
We have been actively working to improve our energy efficiency for some time, and are proud of the fact that we now rank among the companies in the sector with the lowest energy consumption. This puts us in a good position, but we too will be severely affected by rising energy prices in the near future. That’s why it’s incredibly important that we now deepen our work and intensify our energy efficiency improvement efforts across all energy types, but with a particular focus on electricity.As part of this work, we are planning further measures that we hope will contribute to lower prices throughout the electricity system, a more stable power grid and lower carbon emissions.
The planned measures are based on the conditions of each individual property and need to be adapted in each individual case. Many of our properties use district heating and cooling, so we can heat and cool our properties more or less as usual without any major impact on the electricity system. Our focus is therefore on the electricity used for ventilation, lighting and so on. Below are some examples of measures we have implemented or will implement in some of our properties:
- We are optimising our ventilation by adapting the air volumes and the times that the ventilation system runs to the actual needs of the property – when there are fewer people on site, we simply don’t need to ventilate as we would for a full office. We are measuring air quality in a number of locations in our properties and making sure we control the ventilation to ensure a good indoor environment without over-ventilating, thus saving electricity.
- Heat pumps and refrigerating machines consume a great deal of electricity in some of our properties where we have such technology. In these properties, we are making adjustments so that these appliances are operating when electricity is cheaper, and off when district heating or cooling can be used instead.
- We have been actively working on our lighting for many years and have switched much of it to LED, but where we have not yet made the switch, we will speed up the pace of this work. Furthermore, we are working a great deal on controlling our lighting and making sure it is only on when needed, including turning off several of our Fabege signs at certain times during a 24-hour period when we do not think they need to be on.
We are prioritising measures that have the least possible impact on our tenants. If these measures affect your business, please notify your property manager. You can find the contact details of your property team in the section “For our customers”. Search for your address to access your property page and contact details.
Below you will find answers to some questions that we hope will help you save electricity and understand how we work with it.
Information for those who buy electricity from Fabege
HOW DOES FABEGE BUY ELECTRICITY?
Fabege hedges about 60% of the electricity price in advance and buys the remaining 40% at a variable spot price. So we need to make strategic decisions about the timing of our electricity consumption.
Where the portion we buy in advance is concerned, this means ensuring we can buy a certain volume of electricity at a certain price, up to three years in advance. For the remainder of 2022, Fabege has hedged about 60% of the electricity price at a low price of about SEK 1.1/kWh (including grid costs and energy tax).
The variable spot price portion, about 40%, is priced on an hourly basis, and the price varies widely depending on factors such as weather, wind, precipitation and the geopolitical situation.
ENERGY PRICES IN EUROPE
Energy prices for fossil fuels and so on have a major impact on Swedish electricity prices. In recent weeks, energy prices in Europe have been around SEK 5/kWh (including grid costs and energy tax).
WHAT WILL THE ELECTRICITY PRICE BE THIS AUTUMN AND WINTER?
We do not have a fixed electricity price, and electricity prices are very difficult to forecast right now. Subject to change, our estimate as of today is the following electricity price levels for the next two quarters:
- Q4 2022 – average price SEK 2.0/kWh
- Q1 2023 – average price SEK 2.7/kWh
If you have further questions about how we manage electricity, please contact your property manager for more information. You can find the contact details of your property team in the section “For our customers”. Search for your address to access your property page and contact details.
What can tenants do to reduce their electricity consumption?
Tenants’ lighting and appliances typically consume the largest volumes of electricity in office buildings.
To follow are some recommendations on how you can reduce your electricity costs in these areas.
- Make an inventory of your light sources. Older light sources can consume up to ten times more electricity than new ones.
- Replace old fluorescent tubes with LED ones.
- Tell all staff to turn off lights and appliances when not in use.
- Appoint a supervisor to patrol the office and ensure that lights and appliances are turned off at the end of the working day, especially before the weekend.
- Review how your lighting is controlled, so that areas used less frequently are not illuminated unnecessarily.
- If you have an automatic lighting control system, it may be a good idea to consult a lighting expert or the company that installed the system to make sure it is working optimally.
Unplug or switch off electronic equipment that is not in use, and replace older appliances with new ones that are more energy efficient.
Examples of appliances include:
- Computers and monitors
- Printers and copiers
- Height-adjustable desks (to be unplugged when they have been set to the correct position)
- Mobile chargers
- Coffee machines
EXAMPLES OF ENERGY-HUNGRY APPLIANCES
- TV sets: Older LED or plasma TVs
- Height-adjustable desks, with high standby consumption
Tip: if the appliance gets hot, it is consuming a lot of electricity!
Find out more about how you as an individual can reduce your electricity consumption and cut your electricity bills at vattenfall.se: Reduce electricity consumption