When Inscape Property Management approached Republic Metering to investigate account disputes by their tenants on electricity bills, they couldn’t have know that replacing their existing meters with smart meters would earn them an over R900 000 return on their investment and take care of any future metering or billing irregularities.
As the owners of a small, two-tenant shopping complex in one of the province’s major metros, they were faced with tenant queries regarding possible irregularities with their monthly electricity accounts. Tenants and common areas were being metered manually using the difference between the start and end sub-meter readings for each tenant. The meter reading service provider could not account for the irregularities. The complex owner then turned to Republic Metering for assistance.
In less than a day, Republic Metering upgraded the legacy sub-metering system to a smart metering system. Sub-meters were installed for all tenants, as well a municipal-check meter. This allowed for full daily consumption auditing and anomaly checking at both the tenant and complex levels. A period of smart auditing ensued.
“The installation of smart metering has allowed us to recover outstanding funds and has more than paid for itself in the immediate term. As an additional benefit, we will now have a global view of the energy usage at the site along with detailed historical data on demand and usage. This will prove invaluable to both us and our customers for future energy planning and making informed decisions on energy efficiency and least cost supply options.”
A R900 000 return on a R100 000 investment, which included the cost of the meters, installation and monitoring.
Through the smart auditing process it was easy to discover that incorrect billing was taking place regularly due to a faulty municipal meter. No findings were disputed and credits were passed. Going forward, the complex owner now has a formal process around energy usage and monitoring – opening the doors to creating a demand profile for each tenant as well as the entire complex, tariff analysis, accurate billing, and more.