Yet Another Beneficiary of Our Electricity Optimization Efforts

White Star Real Estate achieves savings of 15.2% on electricity bills for the Client.

Property Name: MHQ
Location:Sofia, Bulgaria
Property Type:Office
Service Types:Property Management, Leasing
Size:7,400 m²
Client:MHQ Ltd & Bard Properties
Website:www.mhq.bg
Main Tenants:Novotel, Ingram Micro, Markan, SBTech, Bard, Software Group BG, Happy Tour
Quote:“Our knowledge of the deregulated electricity market resulted in cost savings for the owner of the property.”

Challenge

The electricity cost represented approximately 14% of the monthly service charge for the building, and it jumped to 20% during the peak summer season. Optimizing the electricity cost is essential to keeping the service charge at the set rate and to ensure the property stays competitive in Sofia’s highly price-sensitive office market.

Solution

Based on our experience with other properties in AIG and White Star Partners’ management portfolio, our technical staff took advantage of the liberalization of the energy market in Bulgaria. We researched the market and gathered offers from the leading electricity suppliers, ultimately selecting the best price quote for the consumption of the building.

Results

Without any technical changes to the building or capital investment by the owner, AIG and White Star Partners achieved savings of 15.2% compared to the prices on the regulated market.