3 reasons why not upgrading your tank could be costing you more
Fri, January 17, 2020 - 12:43:00
When it comes to making relatively large outlays for equipment and other business assets, it’s easy to be tempted to try and put it off until you absolutely have to. Our engineers often see this to be the case, with them regularly being called out to service pumps and equipment that really should be replaced on fuel storage tanks that have seen better days. However, in many cases keeping such equipment going to avoid expenditure could actually be costing you more...
More regular (and expensive!) maintenance
Just like a car, the older a pump gets, the more you start having to spend on repairs and therefore the less economical it is to keep it running. No matter how good quality something is, equipment always has a life span and as a fuel dispensing pump nears that, the occasional replacement of wearing parts such as vanes turns can turn into more costly faults such as issues with the motor.
With a fuel tank, what was once an annual service to check it’s compliant with oil storage regulations, may end up being welding work to deal with rusting, strengthening of the supporting structure and replacement of some of the pipework.
Unnecessary energy consumption
According to the Department of Energy and Climate Change, one of the biggest culprits of energy waste is old, inefficient electrical equipment and motors. If your fuel transfer pump is in regular use and its motor is old and inefficient, it’s likely having a considerable impact on your energy consumption. Replacing it with a new, efficient pump could save you money when it comes to your annual energy bills.
Increased chance of oil leaks
For those that store fuel on site, one of the most costly risks is an oil spill. Unless you are committed to very regular tank inspections and preventive maintenance, a very old fuel storage tank can put you at risk of an oil spill. Corrosion, wear and rust can all result in a compromise in the structure of the tank walls, which can eventually mean fuel leaking out and you being responsible for an oil spill clean-up.
So there you go, three examples of how in the long run not investing in new equipment can actually cost you more. When routine maintenance costs start turning into larger, more regular repairs then maybe it’s time to embrace the cost of a new tank and/or its equipment to save on maintenance and energy costs in the future.