It seems that every time I turn on the television there is another current affairs program highlighting the rising cost of energy and offering up ways for consumers to save by joining together and purchasing as a group. While the media has given the concept a shot in the arm recently, the concept of group purchasing power is not a new one.
When you go into your local supermarket, buying in bulk saves you money. The same is true for electricity.
Bodies Corporate have been taking advantage of group purchase discounting across multiple supply and service channels and some are saving hundreds of thousands of dollars by buying their electricity in bulk and passing on the savings to their residents.
How Much Can Your Building Save?
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.
Who Will Benefit?
While there is most often a requirement to invest both time and money, 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.
A typical, well-managed, high rise living Embedded Network customer in SEQ, like those served by SAS currently pays between 30-50% less than the reference price for their electricity and air conditioning.
If you are interested in assessing your options for electricity supply – click here to contact Silver Asset Services. We can tell you very quickly whether or not your Body Corporate is on the right tariff and whether you would be a good candidate for bulk supply.