Lot owners and developers will be winners if recommendations to Australia’s energy market are adopted.
Embedded Network Retailers offer bulk electricity supply to strata title buildings, including apartments, shopping centres and office buildings, but many developers and body corporate committees are trapped in non competitive contracts.
The changes will allow individual lot owners a choice of electricity provider. Greater competition means reduced prices with many consumers already experiencing savings of between 30%-50% depending on the size of the development.
But the change will not be quick. Time is needed to allow competitors to offer metering services and for protocols to be established on when meters can be changed during the switching process.
It’s estimated that the National Electricity Rules will start on 1 December, 2017 with Victoria, New South Wales and South Australia committed to starting on that date.
However, legislative changes are required in Queensland, Tasmania and the ACT to recognise the metering and other arrangements regarding embedded networks.
Forward-thinking developers are recognising that there is a sales competitive advantage by investing just a few hundred dollars per unit to install electricity meters with communications and a simple head end to allow service provider choice.
Silver Asset Services works with developers and their consultants to ensure infrastructure is set up to benefit the communities and their residents.