APARTMENT COMPLEX AND PROPERTY MANAGEMENT

Client: The client is a leading commercial and residential real estate and property management firm. Challenge: The client’s accounts had been in contract with a third party supplier, but a one our network's account manager discovered after an initial analysis, that their accounts had rolled off an expired fixed rate agreement. For a period of two months, the property management firm was exposed to market volatility, floating on a variable rate plan for their electricity supply. The result - they were billed nearly twice the amount of the original contracted rate approximately $85,000 for just those two months of exposure. With the property management firm itself managing a large portfolio of commercial and residential clients, it meant that many of their clients saw their electricity bills double. Solution: We stepped in and the client’s existing supplier was one of the 35+ companies represented in the Commercial Energy Network's supplier portfolio. Leveraging this relationship, Our Network worked on the client’s behalf to create a case that justified a position warranting a refund. Savings: Our Network energy expert successfully negotiated a full refund on the two months of overcharges. In addition to successfully securing a rate and terms to renew the agreement, with a cost reduction per kWh, projected to yield over $190,000 in savings - in all resulting in more than $270,000 over the full 3 year term.