An Embedded Energy Network (EEN) is private electricity network or “internal electricity grid” established within a multi occupant site on privately owned infrastructure using the same electricity source (local distribution network service provider) and the same internal wiring. An EEN simply substitutes the utility meters typically provided and owned by the local network service provider with patern approved private meters and insert what is called a Gate Meter that aggregates the supply through one point.
Essentially occupants at the site have the opportunity to purchase their power through the gate meter (main switch board) taking advantage of the ‘group’ buying power enabled by purchasing at “wholesale” or what is known as large market rates. These savings are usually shared between the occupants ,with percentage discounts larger than available to a small market account holder, and the owner’s corporation as an income stream which can be used for improvements to the building or to reduce building operating expenditure. The owners of the building under our model are the owners of the EEN and on-sell the electricity to the occupants and generally appoint a EEN manager to ensure compliance with management, billing and customer services requirements.
Through an EEN occupants can source low cost electricity directly from the owner of the building or other network owner. The EEN market is regulated and EENs must comply with Australian Energy Regulator or Australian Energy Market Operator guidelines. The rates charged to customers of the EEN cannot be more than the published market rates. The owners of the building (or network) can set or amend the “sell rate” from time to time and all occupants still have the choice of retailer should they decide not to join the EEN.
Under our EEN model, customers can typically save more than 15% on their otherwise best negotiated rate with an existing retailer without the onerous lock in contract conditions. The owners of the building (or network) also generate an ongoing revenue stream from the sale of electricity to the occupants.
Simple – everyone benefits!