Written by: Islam Al-Saqqa
A recent report issued by the Consumers Organization has shown that many homeowners' associations and residential communities incur exorbitant additional financial costs in electricity and gas bills as a result of relying on old and outdated energy contracts.
The analysis, which covered a large number of energy supply contracts, indicated that most residential buildings pay excessive money repeatedly due to not reviewing consumption tariffs in common areas such as entrances, elevators, and garages.
Additional costs in electricity bills
The main problem in electricity bills for common areas is concentrated in two basic factors: the application of old tariffs and the inappropriateness of the contracted power to the actual needs of the building. The data indicated that a typical residential building may incur significant annual losses as a result of remaining within uncompetitive tariffs in the free market instead of looking for better offers.
In addition, a large part of residential complexes suffer from booking electrical power much higher than that actually used by common activities such as elevators, water pumps, and lighting, which results in paying fixed monthly amounts regardless of the actual volume of consumption.
The impact of gas bills on central heating
The matter is not limited to electricity only, but extends to include gas bills, especially in buildings that rely on central heating systems. According to the provided data, moving away from regular market options in average gas consumption increases the value of the bill by significant percentages, leading to the loss of thousands of euros annually for each building.
The regulatory options available to residential complexes that have collective heating allow for the possibility of benefiting from subsidized or regulatory tariffs provided that specific terms and standards are met, which contributes to reducing expenses significantly.
Suggested steps to reduce common energy expenses
Reducing bills for common areas requires taking practical steps that are discussed during owners' meetings, including reviewing electricity and gas contracts available in the market and comparing prices, as well as adjusting the contracted power to suit the actual consumption of the facility.
It is also recommended to carefully examine the terms of the contracts concluded to detect any additional services or unnecessary maintenance fees that may be added secretly and increase the financial burdens distributed to property owners.
