Southern Land Company Saves Over $250,000 at New Properties Through Strategic Procurement & Utility Audit

Client Overview: Southern Land Company

Southern Land Company successfully navigated significant energy challenges at its luxury multifamily properties, The Josephine and The Alcott, in Philadelphia. With rising electric costs and unexpectedly high bills at The Josephine, Bakey Energy Consulting was engaged to implement a strategic procurement and utility audit. By securing favorable energy rates and identifying a critical metering error with PECO Energy, the company achieved remarkable results, including a 67% reduction in monthly electric bills and over $250,000 in retroactive credits. This comprehensive approach not only optimized energy expenses but also enhanced financial confidence among investors, ensuring long-term budget protection for Southern Land Company.

The Challenge

As part of its growing portfolio of luxury multifamily properties, Southern Land Company brought two new high-end buildings online in Philadelphia: The Josephine and The Alcott. With high occupancy, electric HVAC systems, and common-area amenities, energy spend was projected to be significant.

But after just a few months of operations, the electric bills at The Josephine appeared unusually high—far exceeding usage expectations for a newly commissioned building.

Our Solution: Strategic Procurement + Utility Error Discovery

Bakey Energy Consulting was hired to provide a comprehensive procurement strategy for both buildings—and to investigate anomalies in The Josephine’s billing data.

For Both Properties:

Electric Supply Strategy: Used market timing to secure forward power at low-cost fixed rates with no early termination risk.
Contract Structuring: Built-in flexibility for construction-to-occupancy transition period.
Budget Forecasting: Created 12- and 24-month usage models to support underwriting and investor reporting.

For The Josephine:

Utility Meter Audit: Conducted load analysis and submeter reconciliation to uncover a PECO Energy metering configuration error.
Root Cause: PECO had mistakenly set the metering multiplier more than 3× higher than actual usage.
Resolution: Worked directly with PECO engineers to correct the billing setup and apply retroactive credits.

Results

Why It Worked

Bakey Energy Consulting didn’t just negotiate lower supply costs—we identified a critical utility billing error that would have quietly drained Southern Land Company’s operating budget. By pairing strategic energy procurement with technical utility oversight, we delivered hard-dollar savings and long-term budget protection.

Building New? Managing a Luxury Portfolio? We Can Help.

Whether you’re constructing new properties or managing premium multifamily assets, we’ll make sure your energy costs are optimized—and your utility bills are accurate.