Stratacon Inc.

Stratacon Inc.

August 09, 2005 08:30 ET

Stratacon Inc.: More Apartment Buildings Choose Submetering In Effort To Conserve Electricity

WOODBRIDGE, ONTARIO--(CCNMatthews - Aug. 9, 2005) - Stratacon is pleased to announce that EL-AD Canada has selected Stratacon's 'smart' submeter system for two apartment buildings. Stratacon will be working with EL-AD to provide their tenants with comprehensive daily consumption information so that tenants can monitor and take responsibility their own in-suite electricity consumption. EL-AD Canada is a leading owner of high quality residential and commercial buildings across Canada. They own over 18,000 apartment rental suites in Canada and the two buildings being 'smart metered' total 334 units.

"We're excited about this initiative because it can be a big benefit for our tenants. 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," said EL-AD CEO, Udi Erez

"We've been getting lots of calls from apartment owners and condominium corporations asking about our 'smart' submetering systems. About 1.8 million suites across Ontario still have no individual meters. Even with the delays in legislation to simplify the conversion process, some buildings are moving now to reduce electricity consumption and improve the amount of information available to consumers. Once the meters are installed electricity consumption drops by between 15-25%," said Stratacon President, Ian Stewart.

When a building is sub-metered the tenant's rent is reduced, and, responsibility for paying for 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 Stratacon's Internet web site that is supported by trained customer service personnel. 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 (1.8 million suites) use a bulk meter for electricity consumption. The building owner pays the utility bill and electricity is included in the rent or common area expenses --- residents have no information about their own consumption and, have no incentive to conserve. In most buildings sub-metering can be done in less than a day without requiring access to individual units, and, residents benefit from the lower bulk meter rates. Once a building is metered consumption drops by between 15 to 25%. Many jurisdictions (e.g. Germany) have made it mandatory to 'smart' submeter multi-residential buildings.

About Stratacon

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 EL-Ad Canada

EL-AD Canada is part of the global EL-AD Group that has investments in the United States, Western Europe and Israel. EL-AD entered the Canadian marketplace in 1998 and has built up a portfolio of 18,000 apartment units and over 6 million square feet of commercial space. For more information about EL-AD Canada visit www.eladcanada.com.




Contact Information

  • Stratacon Inc.
    Ian Stewart
    President
    (905) 856-4001 Ext. 107
    or
    Stratacon Inc.
    Peter Mills
    COO
    (905) 856-4001 Ext. 109