Electric metering is not something we consider very often. Most people wouldn’t be able to tell you how their electricity is being metered and monitored.
“We don’t appreciate how something works so long as it keeps working. We don’t even consider the financial implications.” – Andre van Niekerk, InPower Business Manager.
Yet despite our need for electricity, many of us are ignorant of how effective electricity metering can in fact save you money! Here are 7 tips for managing your electricity and your wallet!
Tip #1: Ensure all metering is in place to guarantee all electricity usage is being recovered.
This is particularly important for Property Owners, Managing Agents and Body Corporates. If a tenant or equipment or anything that uses electricity is not metered in a property/apartment complex, then that is free power and the owner is losing out on income.
Tip #2: Check that metering is correctly installed and programmed so that there are no unnecessary losses
With larger supplies to a tenant or consumer, an intelligent meter is used to measure the consumption. If, for example, a meter was programmed incorrectly it will not calculate the consumption accurately. This could mean losses in your recovery from the tenant or even worse, fines from the City of Cape Town for non-compliance!
Tip #3: Check and confirm that the correct CoCT/Eskom tariff is being applied
Property Owners and Body Corporates need to know which tariff is best suited for their premises and need to make sure that either CoCT or Eskom are applying that tariff when billing you.
You could be paying a lot more for your electricity than you should be if you are not being charged the correct tariff.
The broader implication, if you have tenants, is that you will be under collecting from them if the tariff is incorrect. This means you could be losing out on quite a bit of money every month.
Tip #4: Install Bulk Meters to verify CoCT/Eskom meters are calibrated and reading correctly
It could happen that the CoCT meter is not reading correctly, which would result in you being overcharged for your electricity consumption. This can be verified with a main Bulk Check Meter.
The Bulk Check Meter measures the total output on a property, therefore the sum of all the meters on the property needs to equal the total output measured by the Bulk Check Meter. If this does not add up, you will know for certain that something is not being monitored properly and there are losses.
Tip #5: Check that the electricity account is in your name to prevent a third party vendor from making large profits by reselling your power!
In some cases, a third party is paying the CoCT account and collecting the money from You! With a tariff differential between the CoCT and what you are paying, this can be a large profit for the third party. The best way to avoid this situation is to make sure that the electricity account is in your name and addressed to your premises.
Tip #6: Regular inspections to check that metering is functioning correctly or not tampered with by your Tenants
For Home Owners and Body Corporates, this step is vitally important to ensure you are recovering the costs for the correct amount of usage. If your tenant has access to the electricity meter it is important to do regular checks to ensure the tenant is not manually lowering the meter reading and putting you out of pocket.
Tip #7: Invest in a professional electric metering service
If ever a task is too big or requires certain expertise it is always a good idea to seek help from experienced professionals. InPower offers electric metering services tailor-made for Property Managers and Body Corporates. Let us help you manage your electricity usage and CoCT compliance whilst saving you money!