$21 million electrical contract will be available to BOMA.

Kurt Padavano, RPA, FMA, SMA and chairman of the BOMA/New Jersey Energy Aggregation Committee has announced that PSEG Energy Technologies (ET) has been awarded a $21 million annual electrical contract. This winning bid was chosen from among 12 regional electrical companies. The BOMA Aggregation Program encompasses over 272 BOMA members in three New Jersey utility territories representing a 100 megawatt load. The contract takes effect in the next billing cycle for members. The savings are estimated at approximately $2 million annually, to be distributed among participating BOMA members.

"We are extremely pleased to have awarded this large energy contract to PSEG ET and to be able to provide our BOMA members with significant utility savings," said Kurt Padavano. "The Energy Aggregation Committee was created to take advantage of deregulation within the energy industry and to enable all BOMA members to receive greater savings and benefits by being part of a large bulk buying effort. This is just one of the ways BOMA/New Jersey offers its members significant value and benefits," Padavano concluded.

PSEG Energy Technologies (PSEG ET) is an unregulated subsidiary of PSE&G American PowerNet additionally advised BOMA/New Jersey and managed the process of gathering the load data, developing the bid and evaluating the responses on this bid process. BOMA/New Jersey began the process of formulating a program for its members to take advantage of the deregulation of New Jersey's energy industry in early 1999. The committee began soliciting members in the summer and was able to secure a commitment from 272 BOMA members by the end of September. Subsequently, RFP's were sent out to utility companies in October.