Water prices have been rising by 7% annually; as a leader in commercial energy management, curbing these costs is vital to maintaining your bottom line. Ensuring accurate billing through real-time water data is a vital first step. Every dollar counts in energy management, so why pay more for water than you have to?
Monthly utility bills provide too little information to catch solvable problems. In contrast, real-time monitoring can help you verify your costs, resolve inaccuracies, and bill your tenants accurately – all while increasing your NOI and corporate sustainability.
Why Choose Real Time Water Data To Verify Your Bills?
Your utility bill only gives you the total consumption for that month. This leaves you guessing why your bill may be higher than normal, or what consumption trends may exist. Real-time metering allows for more in depth analysis.
With real-time water meters, you’ll have immediate access to consumption data at the 15-minute interval. You can match your building’s water consumption spikes to what you are being charged on your bill.
Meter outages or mistakes will also be immediately apparent with real-time data. This means you can work out discrepancies early and quickly, before it becomes a more complicated bill issue at the end of the month.
How Utility Meters Misinterpret Your Building’s Water Consumption
Utility companies charge for the water entering a building and normally assume the same amount of water leaves the building through sewer or irrigation pipes. Other times, this value is calculated based on estimations. With real-time data, assumptions and estimations are a thing of the past.
This is important because a significant amount of water evaporates through a cooling tower. Property managers should no longer be overcharged for sewer disposal. Real-time meters can measure exactly how much water is leaving the building. In some areas, this data may mean you are eligible for cooling tower evaporation rebates or refunds.
What to do if your rates are inaccurate
One of our larger clients discovered a billing inaccuracy through Aquicore’s real-time data. They were being charged for water PLUS irrigation, instead of water MINUS irrigation for nine whole years without notice. After resolving the issue they received a $81,000 refund and continued to save $9,000 a year.
Utilize Accurate Tenant Billing for Higher Retention + Savings
Real-time data not only ensures utility companies are charging properties correctly; it also ensures that you are not undercharging your tenants. You can charge your tenants for exactly what they are using, as well as set up an automatic billing program. You save in two ways here: greatly reducing the amount of time you spend billing tenants, and recovering lost capital.
Once you are confident that your bills are accurate, you can move on to implementing water efficiency projects to further reduce your costs. By utilizing real-time submeter data effectively, you’ll be able to make the most of your water management program.