Terminating Geothermal Contracts

Wednesday June 16th, 2021
12:30 pm - 2:00 pm

More and more new condominiums are being built with geothermal systems to heat and cool the units and the common elements.

While these systems are usually applauded for reducing a condominium’s carbon footprint, the reality is that often, these systems are not owned by the condominium corporation, but rather a third party supplier that has a very expensive, almost never ending contract with the condominium corporation to supply such energy. This can pose a great challenge for a board and its owners who are looking to enjoy the benefits of green energy while keeping the costs associated with such a heating and cooling system contained.

This session will provide insights on these types of systems and financial arrangements, together with guidance and real life examples of condominium corporations that have successfully terminated these contracts and saved their communities millions in the process.

Please join our panel of legal, technical and financial experts for this session of particular interest to any board member or owner paying someone else for the supply of geothermal to your building.