North Bank Park Condominium Association Renews Submetering Services with Nationwide Energy Partners
Nationwide Energy Partners (NEP) announced today that the North Bank Condominium Homeowners Association (North Bank) has renewed its contract with NEP for submetering and residential electricity and water billing services. The condominium association made the decision to renew with NEP after evaluating available alternatives. Under the new contract, NEP will begin installing new smart meter technology at North Bank in late 2017.
“Condominium associations have a choice in Ohio. They can go with either the local utility or choose to privatize and manage their electric distribution system with a company like NEP,” said Gary Morsches, CEO of Nationwide Energy Partners. “There’s power in smart metering solutions; they help multifamily residential property managers understand the property’s electricity use better and reduce their management costs.”
Located in the heart of Columbus’ prized Arena District, the Condominiums at North Bank Park provide luxurious urban living in two distinct architectural styles that incorporate a historic A&P warehouse building and a 20-story tower constructed of steel and glimmering glass.
Under the new multi-year contract between NEP and North Bank, residents’ bills will be calculated at the same rate as the direct residential customer rate from the local utility; then a credit from the Association will be applied so that North Bank residents’ bills will be lower than if they were direct customers of the local utility or other service companies.
With NEP smart metering, North Bank residents will have more information about how they use electricity and water through a single, simplified, easy-to-understand monthly bill. The U.S. Department of Energy estimates that submetering can cut energy costs by up to 21 percent because residents have better information about actual electricity use.
NEP originally partnered with North Bank in 2007 and has managed the electric and water services and resident billing since that time.
ABOUT NATIONWIDE ENERGY PARTNERS
Nationwide Energy Partners (NEP) simplifies the management of power and water usage for multifamily property owners and developers and provides a gateway for true energy innovation. For residents, NEP provides data and insights with its smart meters, allowing residents to pay for what they use. Providing a gateway for energy innovation, NEP manages submetered microgrids reducing energy costs and adding security for properties.
Based in Columbus, Ohio, NEP has proudly served multifamily property owners, managers, developers, and their residents by providing innovative energy management solutions since 1999. To learn more about NEP’s development, management, and energy billing services, please visit www.nationwideenergypartners.com