The Utility Audit Process
Utility charges are some of the most complicated fees a business organization may pay.
This complexity often leads to potential errors. Hidden costs, overcharges resulting
from billing errors, charges for nonexistent services, and complex billing codes could be
increasing your utility bill every month. Many of these issues are overlooked indefinitely
unless a trained professional evaluates, identifies, and fixes the issues.
With our expertise in utility auditing, we can audit utility bills for any company in any
state.
IAG audits have two main parts.
Fee refund:
First, we look into obtaining refunds for past errors and misclassifications. In most states, IAG can go back three years for a refund; however, some states even allow four years. Our audit procedure of your company invoices will verify:
- Invoice Accuracy
- Incorrect meter readings
- Faulty meters
- Redundant billing charges
- Evaluation of line charges
- Surcharges, misclassifications & tariffs
- Billing/accounting errors
- Incorrect calculations
If errors are discovered in any of these areas, your company would be eligible for a significant refund.
Future reduction of fees:
IAG will work to reduce your utility expense in the future. We will take an in-depth look at reducing utility demand, tariff rates, and usage. In deregulated states, distribution charges are also analyzed, and in regulated markets, utility rates and tariffs are evaluated.
Act Now!
If your company has not hired someone to do an in-depth audit and analysis of these charges, there is a good chance your organization is paying much more than they need to.
We do a complete audit and review of these complex charges by looking at every utility bill from the last three or four years of usage (depending on the state). We look for and verify:
- Demand reading errors
- Tariff non-compliance
- Improper application of tariffs
- Evaluation of line charges
- Usage charges
- Improper application of rates
- Incorrect calculation
- Power factor analysis
- Improper distribution charges
- Utility incentive opportunity
The process will also involve, in some cases, a more in-depth data collection of the facility to verify some of this information.
The complete audit process includes:
Facility Survey/Welcome Call
An IAG auditor will call and collect all data on the facility including equipment, building, and usage data.
Evaluation/Predominant Use Study
An engineering report is compiled using data from survey and utility invoices.
Presentation and Filing
Results are presented to the client and all necessary documentation is submitted on behalf of company to the applicable authority and/or utility company.
Verification, Exemption, and Refund
IAG will verify all billing errors have been corrected, all adjustments have been made, and progress is tracked until refund is issued to client.
The bottom line? We obtain refunds for historical errors and overcharges while negotiating cost savings in more than 70% of our completed utility audits spanning many types of businesses. Consider what your company has spent on utility bills over the last three years--now imagine receiving a refund for an average of 8% of those charges! That is the average amount of excess payments our audits discover.
More good news!
There is no fee for our service - IAG is compensated only when we find savings from your utility bills. You have no risk or expenditure of funds; we undertake the audit and receive payment only if we have helped you reduce your utility bill.
Contact us now to start your audit today!