Crescent officials were unavailable to discuss the savings that will be reaped from the play, made possible by deregulation. Under the terms of the pact, Dynegy will provide 115 megawatts of power to 54 Crescent-owned buildings.
The provider contract comes just eight months after Fort Worth-based Crescent teamed with TXU Energy in a five-year contract to secure a full range of services, including power procurement at the REIT's commercial office sites nationwide. Crescent owns 74 office buildings, totaling 28 million sf, in six states.
"Crescent began researching energy efficiencies long before deregulation took effect," Denny Alberts, Crescent's president and COO, said in a prepared statement. He says the bottom line has the potential to "save millions of dollars in electricity costs and pass substantial savings on to our customers.
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