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Bright sparks at Jones Lang LaSalle save clients $350,000.

Jones Lang LaSalle announced that its Energy Advisory Services group has completed the 2004-2005 electricity procurement program for its New York clients, reducing their annual energy costs by approximately $350,000.

"Our electricity procurement program underscores Jones Lang LaSalle's commitment to bring our clients reliable electricity in a cost-effective, dependable manner," said Gary Graham, vice president of Jones Lang LaSalle's Energy Advisory Services Group. "

The result of our innovative approach to energy pricing and risk management goes right to the bottom line for our clients and helps reduce the overall cost of occupancy for the tenants in our managed investment properties."

Jones Lang LaSalle's electricity procurement program serves its clients by identifying and delivering the best combination of price and contract terms and conditions to deliver cost effective, risk balanced energy for their use.

"Because New York has been a deregulated market for several years, identifying ways to save in energy costs required a greater level of expertise and strategic thinking," said Jones Lang LaSalle's Tony Cartagine PE, vice president of the Energy Advisory Services Group.

"We were able to maximize our clients' savings by assigning portions of the portfolio to three different Energy Service Companies (ESCOs)."

Ian King, Senior Vice President of the firm's New York Operations group added, "Electricity is the single largest operating expense for our properties. Through procurement and driving operating efficiencies, we've seen significant positive improvements in the financial performance of our clients' assets. This is a key initiative for Jones Lang LaSalle in 2004 and beyond."

Restructuring of the electricity industry allows consumers the option to competitively procure the generation portion of their electric service, while the transmission and distribution portions of their service remain as regulated services provided by their local electric utility company.
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Publication:Real Estate Weekly
Date:May 19, 2004
Words:291
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