Most electric motors do not operate at their rated power. This observation, based on my experience with various companies and institutions, stems from the fact that motor sizing is always "generous," incorporating a safety margin.
Consequently, the reality is that motors typically operate below their rated power.
One alternative worth considering is the installation of variable frequency drives (VFDs); these automatically reduce the voltage whenever the motor is operating below its rated power —without compromising the motor's performance.
If you would like to evaluate this option, I am at your disposal. I prefer to conduct a pilot test—measuring the difference in performance with and without the drive—to assess the viability and benefits of the project.