Savant Energy Power Networks (SEPN) was established in 2015 by Richard Mintz and Justin Hyde. Both saw an opportunity in the Australian Energy sector to provide multi-tenanted facilities, such as apartment buildings, with cheaper utility costs.
This is achieved through embedded networks, which includes embedded power networks, centralised bulk hot water and gas. Embedded networks enable SEPN to procure the energy in bulk and then on sell it to the various tenancies on the site.
SEPN’s Sales and Marketing Manager Darren Lines explains, “we offer strata managers an opportunity to reduce the energy spend of the strata scheme while also reducing the owner’s corporation capital works fund and operating liability for the management of the bulk hot water plant and gas.”
Another benefit is that owners and residents are being provided sustainably cheaper utility costs.
What makes SEPN different from its competitors is that SEPN is a licenced electricity and gas retailer providing protection and support for the owner’s corporation and consumers. SEPN also takes on all financial liability rather than the owners corporation.
“Our competitors hold the owners corporation liable for the recovery of any costs incurred. This includes upfront payment for capital expenses as well as the recovery of unpaid bills issued to tenants. Instead, Savant Energy takes on this liability.”
This is a new and emerging market with a few players, but the future is strong. Savant Energy provides a full suite of products to strata schemes to manage and minimise utility spend while providing the owners corporation with reduced liability on strata fees and the sites capital works fund.
For more information go to www.sepn.com.au or call Darren on 0427 635 149.