... New contracts secured with no security deposit through Power Efficiency’s energy procurement expertise …
London – 2 June 2010 – Power Efficiency, the UK’s leading energy procurement and carbon strategy consultancy, today announced that it has achieved energy procurement savings of over 30% for Real Estate Opportunities plc (REO), the international real estate company and owners of Battersea Power Station. REO is proposing the regeneration and redevelopment of Battersea Power Station, which will be the catalyst for the creation of a new quarter of Central London in Nine Elms.
Rob Tincknell, Managing Director of Treasury Holdings UK (development managers for REO) said; “We had been on excessive energy supply contract rates when we brought in the Power Efficiency team. The expertise of the Power Efficiency team in securing such low energy costs has already resulted in cost reductions beyond our expectations, and will result in significant cost savings for us going forward.”
Using its collective experience of over 100 man-years in the energy markets and its constant monitoring of wholesale energy pricing, Power Efficiency was able to secure contracts with suppliers for REO that resulted in cost savings of over 30% on electricity. In addition, Power Efficiency took on high level credit negotiations on behalf of REO and as a result was able to secure the new low cost contracts without the need for any kind of security deposit – a practice that has become the norm for energy suppliers and that is crippling commercial energy users of all sizes.
Bobby Collinson, managing director of Power Efficiency, commented; “Achieving these kind of savings is only possible through close and continuous market monitoring, and we’re very proud of what we have achieved for Real Estate Opportunities. Security deposits are having a dramatic impact on the cash flow of all large energy users, and their broad introduction during the downturn exacerbated this – all organisations should negotiate hard with their energy suppliers to reduce the impact on their business.“
About Real Estate Opportunities plc
Real Estate Opportunities (REO), is a listed real estate investment and development group, active in the UK and Ireland. REO's investment and development portfolio includes land, development and investment properties in all of the major sectors of the property market including office, retail, industrial and residential. REO owns prime office and retail assets, such as Central Park, Dublin and the Lafayette Building, 22/25 Westmoreland Street, Dublin, with high quality blue chip tenants including Vodafone, Merrill Lynch, KPMG and Marks & Spencer.
REO also owns Battersea Power Station, which is being developed by Treasury Holdings. Rafael Viñoly’s masterplan for the 40 acre Battersea Power Station site includes a CCHP energy centre, generating 30MW of electricity, which, together with other energy efficiency measures, will enable the Power Station to become zero carbon and the rest of the development to be low carbon, saving around 65% of CO2 emissions across the whole site.
About Power Efficiency
Founded in 1999 with the prime objective of bringing a fully-rounded, strategic approach to the business of energy management, Power Efficiency is one of the UK’s leading consultancies in helping businesses define and achieve successful energy procurement and carbon strategies. With a management team that has over 100 years experience in energy markets in both the UK and overseas, covering core areas such as energy procurement, energy reduction, auditing and the introduction of new technology, Power Efficiency constitutes a known and respected voice with every key supplier in the utilities markets, and also with legislative bodies, including the UK and EU governments.
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