New Legislation Impacts Bodies Corporate Providing Bulk Electricity

New Legislation Impacts Bodies Corporate Providing Bulk Electricity

From 1 December 2017, strata communities that on-sell electricity to their residents need to be compliant with new laws affecting Embedded Networks.

 WHAT DOES YOUR BODY CORPORATE NEED TO DO FOLLOWING THIS CHANGE?

The short answer is nothing.

Silver Asset Services will be accredited with the AER (Australian Energy Regulator) and we will be your Embedded Network Manager (ENM).

All properties with more than 30 lots on selling bulk electricity, by law, will require an ENM accredited with the AER.

If Silver Asset Services aren’t your current Electricity Billing Agent, we can provide this service for your Body Corporate following the legislation change.

 WHAT ARE EMBEDDED NETWORKS?

Embedded Networks are private electricity networks that serve multiple units/premises within a building.

Common examples of embedded networks include shopping centres, apartment blocks and office buildings.

 

WHAT IS AN EMBEDDED NETWORK MANAGER?

The role of the Embedded Network Manager is technical and specialised.

It can only be carried out by a qualified service provider who has achieved an Australian Energy Market Operator (AEMO) accreditation.

 

SILVER ASSET SERVICES WILL BE AN ACCREDITED EMBEDDED NETWORK MANAGER

Silver Asset Services (SAS) is in the process of becoming an accredited ENM. This will allow SAS to be appointed to work on behalf of the Body Corporate.

FOR MORE INFORMATION ON EMBEDDED NETWORK MANAGEMENT

Please visit the Australian Energy Market Commission Website

If you would like to speak to someone about these changes, please call us, Silver Asset Services, 07 3010 5560, or email enquiries@silverasset.com.au.

FREEDOM OF CHOICE

Another aspect of this legislation change provides owners and residents within an Embedded Network the opportunity to exit and go directly to an energy provider for their electricity.

HOW DOES FREEDOM OF CHOICE AFFECT OUR PRICES?

The Body Corporate and residents will be financially better off by remaining in a bulk electricity agreement.

You will be able to purchase electricity cheaper in bulk rather than individually.

For Residents and Owners, remaining within the Embedded Network results in:

  • Cheaper electricity usage charges (price/kWh)
  • Cheaper daily service charges
  • Cheaper connection fees
  • No need to purchase new meters to exit the current bulk electricity scheme.

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