Case Study - Farnham Court Student Accommodation
"TCD Energy's expertise have been invaluable to Farnham Court. When we were facing exorbitant utility costs due to an unfavourable commercial tariff, their team stepped in and completely turned the situation around. The Government Heat Network Discount that TCD Energy secured on our behalf was a game-changer, reducing our historical utility costs by over 40% by delivering a substantial credit that has significantly eased our financial burden moving forwards The entire process was handled with the utmost professionalism, and we were kept informed every step of the way. We couldn't be more pleased with the outcome and highly recommend TCD Energy to any property manager or landlord looking to optimise their utility management."
Howard Burns - Director
Farnham Court Student Accommodation
£64,000
Total Government Subsidy
40%
Annual Cost Reduction
Area: Area: Government Support and Grant Funding
When we were facing exorbitant utility costs due to an unfavourable commercial tariff, TCD Energy stepped in.
Farnham Court Student Accommodation, a company that owns purpose-built student accommodation unit, approached TCD Energy to explore opportunities to reduce utility costs. The accommodation unit in question was part of a large complex consisting of four blocks of apartments. Farnham Court rents out the 170 apartments to students on a “utilities included” basis, meaning that they were responsible for covering the costs of electricity and gas consumption from the rent paid.
Punitive Commercial Tariff
The electricity and gas for the apartment were supplied through commercial meters within the complex, and the complex’s management agent was billing tenants based on the readings from sub-meters located within the four separate apartment blocks.
Unfortunately, the commercial tariff in place was overwhelmingly costly due to an unfavourable supply contract that had locked Farnham Court into high rates for the next two years. Although the management company was accurately passing on these costs, the high tariff presented a significant financial burden for both the tenants and the property owners.
TCD Energy took on the challenge of investigating potential solutions to reduce the utility costs associated with the complex challenges in place.
TCD Energy identified that the student accommodation complex was potentially eligible for the Government’s Heat Network Discount Scheme—a first-of-its-kind opportunity in this specific context.
TCD Energy managed the entire application process on behalf of the management company, ensuring all necessary documentation was accurately completed and submitted. This involved a detailed assessment of the complex’s energy consumption and tariff structure, as well as extensive communication with the relevant government bodies to secure the discount.
Heat Network Discount totalling £64,000 and Ong-going Electricity Costs Reduced by 40%
TCD Energy’s efforts were successful, and the company was awarded a Heat Network Discount totalling £64,000. This substantial discount was calculated after the historical billing over a two-year period was recalculated with the addition of the Government subsidy, and represented a more than 40% discount on the total energy spend of the complex over a 2 year period.
The £64,000 discount was applied as a credit to the utility’s accounts. This credit provided significant financial relief, ensuring that Farnham Court and Student tenants benefited from a more sustainable and affordable energy cost structure moving forward.
Success!
This case study highlights TCD Energy’s ability to deliver substantial cost savings through innovative solutions and deep industry knowledge. By securing a significant government subsidy and managing all aspects of the application process, TCD Energy provided Farnham Court Student Accommodation with critical financial relief and established a precedent for similar properties. This success story underscores the value TCD Energy brings to property managers and landlords facing complex utility challenges.
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