March 30, 2005 11:30 ET
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: STRATACON INC.
MARCH 30, 2005 - 11:30 ET
Stratacon Inc.: Apartment Buildings Owners Lead on 'Smart Meter' Initiative
TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Stratacon is pleased to announce that Pivotal Property Management Corp. has selected Stratacon's 'smart meter' system for an apartment building recently placed under its management. Pivotal already uses Stratacon's 'smart meter' system for about two hundred and fifty apartment suites in buildings across southern Ontario; the newest building being 'smart metered' has 57 units.
"Our experience with 'smart metering' apartment buildings has been tremendous. With tenants taking responsibility for their own electricity costs, consumption drops dramatically. Tenants pay lower rents and the majority of tenants are no longer subsidizing those few tenants who use the most electricity. We now automatically look at 'smart metering' when we take on new projects," said Pivotal President Daniel Scenna.
"We've been getting lots of calls from apartment owners and managers, and condominium corporations asking about 'smart metering'. While the Province of Ontario has played a leadership role in raising awareness, the legislative reforms necessary for accelerating change in the apartment and condominium sector are not yet in place. But even with the delays, people realize that 'smart metering' offers the best way to reduce electricity consumption and improve the amount of information available to consumers," said Stratacon COO, Peter Mills.
"Also, with marijuana grow operators shifting their base of operations to high rises, 'smart metering' is the most effective way of keeping these dangerous operations out of residential buildings. 'Smart meters' can immediately detect increased electricity consumption associated with grow-ops,"added Mr. Mills.
A growing number of apartment building owners are installing 'smart meter' technology so that individual apartment suites can be separately metered for electricity consumption. When the building is 'smart metered' the tenant's rent is reduced based on average in-suite consumption for the building and responsibility for the in-suite electricity consumption is transferred to the tenant. The Stratacon 'smart meter' system monitors electricity consumption by the time of day and posts that information to its state of the art Internet web site. The system gives tenants the power to monitor and control their own electricity consumption.
Currently about eighty-five per cent of apartment and condominium buildings use a bulk meter for electricity consumption. The building owner pays the utility bill and electricity is just part of the rent; tenants have no information about their own electricity consumption and, accordingly, have no incentive to conserve. In most buildings switching to a 'smart meter' system can be done in less than a day without requiring access to individual units. Since 'smart metering' multi-residential buildings reduces electricity consumption by between 15 to 25%, a number of jurisdictions (e.g. Germany) have made 'smart metering' multi-residential buildings mandatory.
Stratacon is a utility management company that serves multi residential and commercial markets. They provide complete turnkey services including utility analysis, meter installation, online consumption information for consumers, bill presentation and collection, project monitoring and verification. Their customers include Canada's largest property management firms. For more information visit www.stratacon.ca or call the above contacts.
About Pivotal Property Management Corp.
Pivotal Property Management is based in Woodbridge, ON and currently manages over 40 apartment buildings across southern Ontario. They have successfully maintained a high level of resident retention and fiscal performance across their portfolio of properties. For more information about Pivotal Property Management please contact David Mendel, V.P. Operations at 905-850-0808.
FOR FURTHER INFORMATION PLEASE CONTACT:
905-856-4001 Ext. 107
905-856-4001 Ext. 109
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