Unless you have lived in a strata property that has an embedded network, chances are you don’t fully understand the benefits of an embedded network. This may cause you to be subject to believing many of the myths about embedded networks.
So, lets bust some myths!
Myth 1: My electricity bills will increase if our Body Corporate is part of an Embedded Network
Wrong! I get a lot of Body Corporate representatives asking questions like ‘how much can I save’ and while I’d love to respond with a simple number, it’s never that easy. As with most group purchasing arrangements, the size of your group has a lot to do with how much you will save. Other influencing factors include the existing electrical infrastructure in your building, the location of your building and, of course, the amount you currently pay for electricity.
Buying anything in bulk saves you money and the same is true for electricity.
A typical well-managed, high rise Embedded Network customer living in South East Queensland, like those served by Silver Asset Services currently pay between 30-50% less than the reference price for their electricity.
Myth 2: Embedded Networks do not benefit all stake holders
Wong! There is no doubt that there are significant financial savings to be made when converting to a bulk supply arrangement for electricity. Saving money on common area power makes a direct impact on the bottom line for a Body Corporate. Passing on significant savings to residents not only puts money directly into their pockets but it makes the building a more attractive investment option, particularly for owner-occupiers.
Myth 3: Government electricity rebates do not apply to embedded network customers
Wrong! The recent $200 residential rebate for Queensland residents was applied by Silver Asset Services on behalf of our customers. We always keep our customers up to date with any rebates and are always here to assist with any questions residents may have regarding how the rebate will be applied for them.
Myth 4: Embedded Networks do not benefit developers
Wrong! Silver Asset Services specialises in the administration of bulk utilities services to Bodies Corporate communities. We also work closely with developers to ensure capital costs are minimised while offering investors and residents significant savings on the cost of utility services.
There are many services we target for bulk supply discounts including electricity, air conditioning, hot water and cold water.
There are significant financial benefits in using bulk utility services, but it does come with regulatory and technological challenges. The experienced team at Silver Asset Services can work with your development team to ensure the most appropriate and efficient structures are put in place to support your project and provide future savings to both the body corporate/owners corporation and residents.
If you would like more information to see how your strata scheme can benefit from an embedded network click here to contact Silver Asset Services today.