Trigen-Peoples to Heat and Cool New McCormick Place Hotel
The partnership, formed between Peoples District Energy Corporation and a unit of Trigen Energy Corporation (NYSE: TGN), has been supplying energy services to the existing McCormick Place Exposition and Convention Center since November of 1993, and, more recently, has been supplying the complex's new South Hall addition.
"The hotel agreement extends our commitment to providing economical, reliable energy supplies to the nation's largest convention center," said J. Bruce Hasch, president of Peoples Energy Corporation. "We're proud to play a significant role in the expansion of McCormick Place."
The 32-story hotel is expected to be completed by August 1998. The hotel agreement augments the current arrangement to supply energy to McCormick Place from a central plant, a concept known as district energy. Under contract terms, the Trigen-Peoples partnership will provide heating and cooling through the year 2021.
The district energy system uses a highly efficient technology to supply chilled water and steam from a single plant that is fueled by natural gas. The process is environmentally safe and requires no plant investment by the customer. Trigen-Peoples is pursuing opportunities to serve the energy needs for other buildings in the vicinity of McCormick Place, as well as other projects on the drawing board.
Working with McCormick Place staff to identify operating efficiencies, the Peoples-Trigen partnership has helped reduce energy costs for McCormick Place by $1,000,000 per year, not including expected savings from serving the South Hall.
"We look forward to continued savings and dependable heating and cooling through our arrangement with the Peoples-Trigen partnership," said Harry L. Walder, Jr., senior director of development for the Metropolitan Pier & Exposition Authority, which manages McCormick Place.
Annual gas usage for the McCormick Place plant, including service to the South Hall expansion and hotel, is estimated at 350 million cubic feet -- enough to heat more than 3,100 average-sized homes. Gas is delivered through the distribution lines of the local gas utility, The Peoples Gas Light and Coke Company, a Peoples Energy subsidiary.
Trigen Energy, based in White Plains, N.Y., owns and operates district energy plants at 13 locations in North America.
Chicago-based Peoples Energy is a holding company for two natural gas utilities, serving nearly one million customers in northeastern Illinois, and four unregulated units.
SOURCE Peoples Energy Corporation
/CONTACT: Brian Pinkerton of Peoples Energy, 312-240-4567/
CO: Peoples Energy Corporation; Peoples District Energy Corporation; Trigen
Energy Corporation ST: Illinois, New York IN: OIL SU:
JB -- DETU031 -- 7758 04/29/97 12:35 EDT http://www.prnewswire.com