Last week, we were excited to roll out PUMPsaver, a new Toronto Hydro program where Brookfield-managed buildings will be first in line to start saving on electricity.
We are encouraged by the throne speech announcing the Ontario government’s intention to reduce electricity bills by 8%. The reduction is to be delivered via a rebate that is equal to the provincial portion of the HST on electricity bills.
While this sounds straight forward, our experience causes us to exercise caution. Our view is that condominium eligibility is not assured as electricity billing for condominiums is a complex combination of commercial and residential pricing mechanisms. As demonstrated with the Ontario Clean Energy Benefit and Debt Retirement, we will work hard to ensure our clients receive equitable treatment. To that end, our Vice President of Client Services and Manager of Energy and Sustainability has already contacted both Ministries of Environment and Energy on our clients behalf.
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)