Congratulations to TIER REIT and Endeavor Real Estate Group for achieving the EPA’s 2017 ENERGY STAR® Certification for Domain 2 and Domain 7!
Both are Class “A” office buildings located at The Domain in Northwest Austin, Texas and have received the ENERGY STAR two years in a row. Blue Ocean Energy was chosen to assist the owner and property managers in obtaining this esteemed award.
This certification represents proven, verified superior energy performance over a 12-month period. ENERGY STAR certified buildings perform in the top 25% of similar buildings nationwide and use on average 35% less energy versus similar buildings.
As you are probably aware, Austin Energy just approved a new rate plan which becomes effective on November 1, 2017. Although these new rates are not available yet on the Austin Energy website, the rate plan was distributed by Austin Energy’s key account group, as well as BOMA Austin. Unfortunately, these distributions included a number of “typos,” originally indicating fuel cost (PSA) increases of 17%.
The good news is that Austin Energy has now sent out a corrected rate plan. In the image below, we are comparing the current rate plan with the rate plan that becomes effective on November 1st for buildings inside the Austin city limits, that are either on the 300kW plus or the 10kW – 300 kW rate plan.
As you can see, the fuel cost is increasing by almost 8% during the 8 non-summer months. We have calculated the implication for a typical commercial office building, and it would appear that on average the monthly Austin Energy utility cost will increase between 2 and 2.5%.
As there have been at least two previous rate plans distributed by Austin Energy, we want to stress that we cannot guarantee this will be the final version. Should a new rate plan be distributed by Austin Energy, we will update accordingly.
Many of our clients were surprised to hear about the increase in fuel cost (PSA). As we understand it, the fuel cost is intended to reflect Austin Energy’s cost of fueling their power plants. As these prices are influenced by market forces, the argument is that Austin Energy can pass increases (or decreases) to their customer base without the approval of the Austin City Council. In the past, Austin Energy has only changed these rates once or twice per year. Other utilities (CPS Energy in San Antonio, for example), change the fuel component on every invoice.
ENERGY STAR News
Please note that the EPA has extended the deadline for applying for ENERGY STAR® Certification for 2017 until December 15th. Blue Ocean has grown our portfolio of clients we assist with the ENERGY STAR certification process and to date we have certified approximately 30% of all office buildings in the Austin area.
Today is ENERGY STAR Day! Give us a call if you are interested in achieving the ENERGY STAR certification.
If you have any questions please feel free to contact us at:
Visit our website: www.Blueoceanenergy.net
Congratulations to Prominent Pointe I, located at 8310 North Capital Hwy, Austin, TX 78731, for achieving the EPA’s ENERGY STAR® certification for 2017!
Prominent Pointe I is leased and managed by Peloton Commercial Real Estate – one of the leading commercial real estate companies in Austin, Texas. Peloton partnered with Blue Ocean Energy Management in obtaining ENERGY STAR Certification this year.
Prominent Pointe I realizes benefits for the property owner and tenants. This certification represents proven, verified superior energy performance over a 12-month period. ENERGY STAR certified buildings perform in the top 25 percent of similar buildings nationwide!
Congratulations to UFCU Plaza, located Mopac and Steck, for achieving the EPA’s ENERGY STAR certification for SEVEN consecutive years 2011 – 2017! Only a hand-full of buildings in Austin have realized this achievement for so many years in a row.
UFCU Plaza is leased and managed by Austin-leader in commercial real estate, Aquila Commercial. UFCU and Aquila partner with Blue Ocean Energy Management in obtaining ENERGY STAR Certification each year.
With this certification, UFCU Plaza realizes benefits for the property owner and tenants. This building has lower utility costs compared to similar office buildings and thus lower greenhouse gas emissions, both vital in enhancing asset value. Congratulations to all!
Congratulations to UFCU Plaza, located at the corner of Mopac and Steck, for achieving the EPA’s ENERGY STAR certification for six consecutive years – 2010 – 2016! UFCU Plaza is leased and managed by one of Austin’s leaders in commercial real estate, Aquila Commercial, and is managed by Pat Goerner on behalf of University Federal Credit Union. UFCU and Aquila partner with Blue Ocean Energy Management to coordinate the documentation required to apply for this certification. UFCU Plaza is one of only three commercial properties in Austin to achieve this significant milestone. This building is considered ‘high-performing’ which means it is in the top 10% of similar office buildings in terms of energy use intensity.
With the ENERGY STAR certification, UFCU Plaza realizes many benefits for the property owner and for the businesses with offices in the building as well as for the Austin community. Specifically, this building has lower utility costs compared to similar office buildings and thus lower greenhouse gas emissions, both of which are vital to the sustainability of our natural resources and enhance the value of the asset. Achieving this high level of performance offers many rewards and requires the commitment of the owner and the property management company as well as the manager who is responsible for the building operations on a daily basis.