Are you switched on to where your electricity comes from?
If you live in a Body Corporate or Owners Corporation, you might have your electricity supplied by an Embedded Network.
That means power comes into one point in the building and is then distributed each individual unit.
Typical places you’ll find an embedded network are:
- Apartment buildings;
- Retirement villages;
- Gated residential communities;
- Shopping centres;
- Commercial towers; and
- Business parks.
One of the reasons why Embedded Networks are so attractive is that it allows the building’s owners to source better-than-market-rates for electricity. That can result in great savings.
Over the past couple of years, the rules for Embedded Networks have changed. Building owners such as Bodies Corporate and Owners Corporations have a number of obligations to meet.
One of the most important is to allow individual residents/lessees to receive electricity from the retailer of their choice.
This means engaging an Embedded Network Manager to help them meet their obligations including:
- An obligation to supply;
- Minimum information provisions;
- Billing and payment arrangements;
- Methods for billing estimations;
- Pricing guidelines;
- Under and overcharging guidelines; and
- Maintenance of records.
Silver Asset Services is the expert in utilities management for strata communities. We provide billing services to Owners Corporations and Body Corporate Communities. Silver Asset Service was one of the first companies in Australia to be accredited as an Embedded Network Manager.