Reduced Covid Electricity Rates Do NOT Apply to All Condos
Reduced Covid Electricity Rates Do NOT Apply to All Condos
Submitted By: admin on Jan 11, 2021
Typically, electricity prices change twice a year – May and November. The government announced two price changes in less than one week in December! This is unprecedented change.
Announced December 15th – effective Jan 1:
Electricity commodity prices reduced; and
The Ontario Electricity Rebate also reduced from 33% down to 21%.
IMPACT – An overall 3% reduction to the average annual condominium electricity budget.
Announced December 22nd – also effective Jan 1:
From January 1 to January 28, 2021, customers on the Regulated Price Plan (RPP) will pay a fixed price of 8.5 ¢/kWh for all the electricity they consume, regardless of the time of day or the total volume consumed.
IMPACT:
Customers on the RPP will save $2,500 on average in this one month.
However, approximately 30% of our clients are NOT on the RPP, and are therefore ineligible for this discount.
Crossbridge has the property management industry’s only Ontario Power Authority sanctioned Embedded Energy Manager
Crossbridge’s clients have realized approximately $1 million of new savings each year
Since mid-2010 we have facilitated annual utility savings to our clients totaling nearly $8.0 million
We have also urged government departments and agencies to address inequities in utility billing, evaluated new products and services, developed new municipal codes and established industry best protocols for our clients (e.g. Electrical vehicle charging in condominiums)
