New York (Vocus) February 17, 2010
Archstone, a leader in apartment investment and operations, announced today that it is purchasing a cleaner electricity product for its 12 New York City and Brooklyn apartment communities from Green Mountain Energy Company, the only electric services company (ESCO) in New York focused solely on cleaner energy.
American Utility Management brokered the deal between Green Mountain Energy and Archstone. Based in Oak Brook, Ill., American Utility Management was founded in 1994 and currently provides energy management solutions, bill payment, resident billing and utility submetering services for more than 365,000 multifamily units across the U.S.
Archstone expects to purchase more than 14,621,564 kilowatt hours (kWh) of renewable energy from Green Mountain Energy Company over the one year term of its agreement. The purchase is for the electrical usage at the 12 Archstone New York City apartment communities. This includes powering the facilities’ lobbies and other common areas such as laundry rooms, and exterior lighting.
By purchasing renewable energy from U.S. sources to match 100% of its usage at these facilities, Archstone will offset an estimated 19 million pounds of carbon dioxide (CO2). That’s the equivalent of taking more than 4,000 taxi cabs off the streets for a month.
“Green Mountain applauds Archstone’s leadership in purchasing a cleaner electricity product for its apartment communities in New York City,” said Scott Hart, President of Commercial Services, Green Mountain Energy Company. “This renewable energy purchase further helps Green Mountain accomplish its mission to change the way power is made.”
Archstone New York City/Brooklyn Properties
Archstone Environmental Initiatives
Archstone is working to implement initiatives to better conserve natural resources and to enhance precious open spaces in our nation’s urban centers. Among the energy efficiency features at Archstone communities today are energy-efficient appliances, sub-metering of utilities and expanding co-generation projects, such as solar power panels on some building roofs. Those features are coupled with natural resources conservation efforts, including low-flow showers and toilets, smart controls on irrigation and construction waste reduction.
About Green Mountain Energy Company
Green Mountain, the nation’s leading retail provider of cleaner energy and carbon offset solutions, was founded in 1997 “to change the way power is made.” The company is the longest serving green power marketer in the U.S. and in 2009 was ranked the “Highest in Business Customer Satisfaction with Retail Electric Service” by J.D. Power and Associates1. Green Mountain offers consumers and businesses the choice of clean electricity products from renewable sources such as wind and water, as well as a variety of carbon offset products. Green Mountain customers have collectively helped avoid over 9.8 billion pounds of CO2 emissions. For more information, visit GreenMountain.com.
Archstone is a recognized leader in apartment investment and operations. The company's portfolio is concentrated in many of the most desirable neighborhoods in and around Washington, D.C., Los Angeles, San Diego, San Francisco, New York, Seattle and Boston. Archstone strives to provide great apartments and great service to its customers—backed by service guarantees. As of December 31, 2009, the company owned or had an ownership position in 442 communities located in the United States and Europe, representing 82,829 units, including units under construction. Utilizing this tremendous amount of expertise and institutional knowledge, Archstone now also offers comprehensive advisory services to owners and lenders who want to maximize the value of their assets through Archstone Real Estate Advisory Services.
1Green Mountain Energy Company received the highest numerical score among business electric service retailers in Texas in the proprietary J.D. Power and Associates 2009 Texas Business Retail Electric Provider Satisfaction StudySM. Study based on responses from 2,231 businesses measuring 7 retailers and measures opinions of businesses with their electric service provider. Proprietary study results are based on experiences and perceptions of consumers surveyed May-June and September-October 2009. Your experiences may vary. Visit jdpower.com.
Marci Grossman 602.694.8972