COA review on Cost Savings Initiative Relating to Hydro
COA has reviewed documentation on discussions between the Government, Energy Consultants, Ontario Energy Board, Ontario Hydro and OPG.
A Condominium budget experiences about 30% of their operating budget for utility costs. The difference between Condominiums where the hydro costs are included in the maintenance fees vs those condos where the units are self metered can make a huge difference on maintenance fees. The Board of Directors needs to consider energy savings initiatives for those buildings which are all inclusive of hydro.
The key issues tend to be:
1) Older appliances - not Energy Star - Buildings built 2006 or prior could be experiencing a huge drain on hydro costs - Board needs to discuss initiative on replacements
2) No conversions to LED lighting - Building common elements and units - Board needs to consider working with Owners to replay in-suite lighting
3) Fan coil systems - no energy efficient - Buildings built 2006 or prior could be experiencing high energy costs - Board needs to discuss initiatives on replacements
Hydro Facts to view