Properties Magazine May 2017 : Page 63

BOMA BUSINESS Exploring timely topics with BOMA members &#17;2'%+#.+<+0)&#03;+0&#03;#..&#03; #52'%65&#03;1(&#03;&#11;'6#.&#03; &#0a;4#/+0)X&#03;&#08;4;9#..X &#05;%1756+%#.&#03;&#07;'+.+0)5&#03; #0&&#03;&#0a;.114+0) New Developments in NE Ohio Energy Markets he Ohio deregulated electric market has changed dramati-cally in the last several months. Whether it was the warmest winter in 40 years, First Energy Solutions leaving the market, or the numerous new suppliers that have entered, the market that we know has shifted significantly. T 1. First Energy Solutions (FES) contin-ues to retreat from the market. FES, once the major player in our area, has left our market and walked away from contracts for most small and medium sized commercial custom-ers. Warning: Not all suppliers are created equal… the devil is in the details. We are seeing some qual-ity, investment-grade suppliers enter Ohio for the first time, but we are seeing just as many financially sketchy suppliers arrive. We have spent a surprising amount of time in the last 12 months sorting through these new entrants to see which are worthy of consider-ation. Do your homework! 2. The general movement of the market has been remarkable. With the record-setting warmth this winter, we saw natural gas prices fall 30%. With the increased dependence on natural gas (courtesy of coal plants being shut down by EPA rules), elec-tricity prices followed. Further, we are seeing considerable savings for longer term deals (24-and 36-month terms) and have seen customers lock in prices into 2022. ers are available. Make sure you have access (transparency) to all viable suppliers while making your decision. Understand the financial stability of your electric supplier and their long-term commitment to our market. 2. Many new products are coming into the market. There are a lot of hidden charges that we see unethical suppliers sliding past customers. Make sure you know the details of the contract; do not commit to any-thing over the phone. 3. Be careful whom you share your energy invoices with. Know their process. Ask for references. We are seeing “slamming” complaints at all-time highs. Our general rule of thumb is that you should ask for a meeting with a supplier or a consultant. If they are not willing to meet with you at your office, you should be concerned. After all, with this expen-sive of a decision, you need to “know, like and trust” your energy partner! P BOMA Greater Cleveland is proud to provide this space to our associate members so they can inform, educate and share their knowledge with property management professionals. This article was written by Adam Miller, of NorthEast Energy Advisors. He can be reached at 330-828-6612 or adam.miller@northeastenergyadvisors.com. NorthEast Energy Advisors can be found on the web at http://www.northeastenergyadvisors.com. &#08; &#17;&#0d;&#0b;&#12;f&#06;&#19;&#0d;&#10;&#08; &#18; &#12;&#05;&#12;&#18;&#03;n&#03;&#07;&#05;&#14;&#0d;&#18;&#05;&#10;&#03; &#0d;&#11;&#14;&#16;&#13;&#1a; &#11; &#12;&#18;&#17; &#05;&#16;&#07;&#0c;&#0d;&#18; &#07;&#18;&#19;&#16;&#05;&#10;&#03; &#18;&#16;&#05;&#08; &#17;&#03; &#17;&#19;&#06;&#07;&#13;&#12;&#18;&#16;&#05;&#07;&#18;&#13;&#16; &#05;6&#03;&#0d;&#07;&#13;&#12;&#03;&#0d;&#12;&#18; &#16;&#0d;&#13;&#16;&#17;X&#03;174&#03;)1#.5&#03; #0&&#03;8#.7'5&#03;#4'&#03;%105+56'06&#03;9+6*&#03; #..&#03;%.+'065U&#03;&'.+8'4&#03;37#.+6;&#03;914-X&#03; 10&#03;6+/'&#03;#0&&#03;10&#03;$7&)'6T&#03; &#1b;'&#03;564+8'&#03;61&#03;':%''&&#03;'8'4;&#03; %.+'065&#03;':2'%6#6+105&#03;#0&&#03;(14/&#03; #&#03;.#56+0)&#03;2#460'45*+2T&#03; &#13;74&#03;56#0&#4&5&#03;9+..&#03;'0574'&#03;#&#03; (.#9.'55&#03;241,'%6&#03;'8'4;&#03;6+/'T KMF&#03;&#1b;T&#03;&#06;#).';&#03;&#16;&T &#06;'4'#X&#03;&#13;&#0c;&#03;HHNEK&#03; ).'00u+%109%(T%1/&#03; 999T+%109%(T%1/ How do I sort through this & who can help? 1. It is important that you know your choices. Whether you work with a consultant or do the work yourself, you need to understand what suppli-&#17; &#16;&#1a;&#0d;&#12;&#0b;&#03;&#05;&#10;&#10;&#03;&#13;&#0a; &#12;&#13;&#16;&#18;&#0c; &#05;&#17;&#18;&#03;&#13;&#0c;&#0d;&#13; HHNgFFEgLFKI www.propertiesmag.com 63

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