Budgeting Time: Don’t Forget the Maintenance Fees!

year end budget with Capital City ElectricalEvery facility, even the most up-to-date ones, require some maintenance throughout the year to keep electrical systems and equipment operating at optimal levels. Now is the time to start budgeting for the next fiscal year. Working with your preferred electrical service provider to accurately estimate electrical repair costs and maintenance fees for the upcoming year is a great starting point. These easily forgotten fees, but necessary costs, are often not included in the annual budget, making it hard to pre-plan and save money ahead of time. Planning for electrical maintenance and service fees includes more than just the cost of parts, but should also include the cost of labor, electricity usage estimates, shipping for electrical parts, and more. A good electrical budget should also detail the:
  • Cleaning or maintenance costs for all electrical equipment
  • Annual electrical inspection fees (this is often part of your preventative maintenance schedule)
  • Hourly rate for your electrical service provider and the emergency hourly rate (should they have one and offer after-hour services)
  • Estimated cost of common electrical components that have to be replaced every 3-, 6-, or 9- months (include shipping costs and labor to install the parts)
  • Electrical usage costs based on the average of 2-3 years of electrical bills
  • Estimated costs for electrical upgrades that may be needed throughout the year
Depending on the complexity of your facility and the electrical system, you may need to include costs related to electrical permits, wiring upgrades, equipment maintenance fees, etc. To make your estimates as accurate as possible, it is best practice to use at least 2-3 years of electrical costs as a benchmark. However, if you have upgraded your electrical system within the past year or have added more equipment, you will need to adjust your historical average costs upward, as appropriate. Planning for the unexpected can be tough, especially trying to determine how much money will be needed when an electrical component fails. We recommend adding 15-20% additional to your total electrical maintenance budget for those emergency malfunctions that inevitably occur. When you’re ready to tackle your facility’s electrical budget, Capital City Electrical can help! We will provide you with an itemized list of estimated maintenance fees and a complete recommended repair/service schedule for 2016. Contact us today and our Master Electricians can arrange an electrical system inspection. We will walk you through any and all anticipated maintenance that may be needed on your system throughout the next year.