Power outages and other types of related electrical issues can impact businesses in many ways. These may be power outages that are localized to a specific building, such as if the main power grid for the property experiences difficulty. Within the building, issues with electricity may impact several outlets or light fixtures rather than the entire property. Electricity loss may also be more widespread, affecting multiple properties in the area or even an entire city or town. Regardless of how localized or widespread the electrical issues may be, such issues can have a detrimental impact on businesses. If you are a business owner dealing with a power loss, you should consider contacting an electric company for assistance to minimize the impact to your business.
The Impact of Electrical Power Loss On a Business
When Tropical Storm Irene hit the western coast of the United States, millions of customers were without power. Some were without power for more than a week. While it can be inconvenient for residential customers to deal with an electrical outage, some companies may not be able to conduct business at all until the electricity is restored. Access to computers, phone systems, electrical equipment for manufacturing and more may be completely eliminated. Stores may not be able to process payments, and websites may even be offline and unable to process electronic or online payments until power is restored.
How to Minimize the Impact of a Power Loss On Your Company
The Department of Energy has estimated that the annual cost of power loss due to weather-related events, issues with grid resilience and other issues may be as high as $70 billion. Clearly, this is a costly issue that may impact your own business at some point. Because of this, it makes sense that you would minimize the impact of power loss on your own company as much as possible, and there are different steps that you can take. On your own property, you can install a back-up power generator that can be used during power outages. Consider how much energy your property needs to run basic equipment needed for operations when investing in a generator. In addition, you can request an electrical inspection from an electric company. This can help you to determine if there are potential issues that need to be addressed now that may eliminate electricity issues in the future.
When the Power Does Go Out
According to Fraser Electric, when the power does go out on a property, the fact is that you may still have overhead that you are responsible for even when your company is not producing income. For example, you still have to pay your rent or mortgage, credit card and loan payments, salaries for your staff and many other expenses. Even when the power is out for only a few hours, a considerable amount of income may be lost, and this ultimately can have a detrimental impact on your company. Some income loss may be compensated by a business insurance policy, so you should contact your insurance provider for more information. However, the most important step to take is to restore the power as soon as possible. In order to accomplish this goal, you should contact an electric company as soon as possible. If you believe the issue is with wiring or other features on your property, you may need to contact an electric repair service provider. If you believe the issue may be more widespread, your electricity service provider should be contacted.
As a business owner or manager, it is important for you to plan for a worst-case scenario. While purchasing insurance policies for the property and the business may benefit you, you also need to prepare for issues related to power loss. By investing in a back-up service and obtaining an electrical inspection, you can be proactive. If the power does go out, contact the electric company for immediate assistance with your problem.
