Buildings tenants energy billing
Traditional building tenant recharging has long been a challenge for landlords and property agents. Calculation of electricity usage was made in an inaccurate manner usually resulting in an unfair way of allocating the tenant’s electricity share. Tenant recharge methods like ‘Gross Lease’ proved inefficient in recovering costs fully and accurately. In multi-tenant environments such as large office blocks and shopping malls this was a time (and budget) consuming process often causing tenant disputes against their landlords.
Energy billing using sub meters
Managing energy billing in multi-let, multi-tenanted commercial properties is now made easy thanks to the introduction of smart sub meters, a two-way digital communication device that is located right at the individual tenant’s consumption points. Electricity sub meters collect data, which is then sent to a cloud energy analytics platform in order to calculate how much electricity each tenant is using and translate it into costs. The collection of the tenant’s energy consumption data can be stored and later processed for billing but also for comparative purposes. Landlords and their agents are now performing energy billing accurately for each tenant’s consumption by gathering data electronically and correlating it with the agreed unit rates. Moreover, advanced predictive analytics can provide a good insight of what a tenant should expect to pay at the end of each month and be prepared accordingly. Predictions are based on powerful scientific algorithms and are usually accurate to very high level. Verification of utility bills is then made possible by using the gathered energy data avoiding conflicts and misunderstanding between the parties involved.
Energy sub meters benefits
Some of the building submeter benefits are:
- Accurate bills, payments reflect only the exact usage
- Reduction in administration time and related costs
- Inclusion of special arrangements such as apportionment of out-of-hours usage
- Driving consumption down by closely monitoring usage
- Create an attractive option for potential tenants due to lower overall cost of occupancy of a ‘greener’ building
- Comparison and aggregation of consumption metrics across devices, phases and locations
- Improve operator’s understanding of their buildings
- Cash flow optimisation through reduced energy bills
Meazon’s Bizy energy monitoring and control platform features wireless, easy to install and revolutionary small energy meters, with an open interface to the cloud and low Total Cost of Ownership. The platform is integrated to a Microsoft Azure cloud based energy analytics platform, providing meaningful energy management anywhere anytime.