PITTSBURGH, Feb. 10, 2004 — Strategic Energy, a supplier of retail energy in competitive markets, announced it has signed a multi-year agreement with Comerica Tower at Detroit Center.
Taking advantage of Michigan’s retail choice program, the new agreement represents a nearly 25 percent reduction of Comerica Tower’s annual electricity costs, compared to its existing utility rate.
The price per kilowatt-hour is also capped throughout the term of the agreement, providing the facility with budget certainty and the potential for additional savings through Strategic Energy’s unique electricity portfolio management approach. The signature Detroit skyscraper, which is the tallest building in Michigan, consumes more than 22 million kilowatt hours of electricity each year.
“Our partnership with Comerica Tower illustrates the great success of Michigan’s retail choice program,” said Trevor F. Lauer, Vice President of Strategic Energy. “Commercial customers of all sizes are substantially reducing their energy bills by choosing a supplier that can meet their specific needs — and that’s really what competition is all about.”
“We were pleased with Strategic Energy’s professionalism from the start,” said John Cullen, Property Manager of Comerica Tower. “The switching of our accounts from the utility to Strategic Energy was seamless, and it gives us confidence knowing that our electricity prices will not exceed Strategic Energy’s Ceiling Price, which is key to our budgeting process.”
With a regional office located in Livonia, Michigan, Strategic Energy began serving retail customers in the Detroit Edison and Consumers Energy service territories in March 2003 and has rapidly grown its commercial and industrial customer base in the state. Strategic Energy serves more than 46,000 accounts in nine states including California, Connecticut, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania and Texas.
About Comerica Tower
Completed in 1992, Comerica Tower at Detroit Center is a 1 million-square-foot, neo-Gothic tower that rises to a dramatic gabled rooftop. At 45 stories high, it is Michigan’s tallest office building. Architects Philip Johnson and John Burgee designed Comerica Tower to be visually appealing, yet functionally efficient. In 1996, the building received the prestigious Award for Excellence from the Urban Land Institute for its overall performance.
About Strategic Energy
Strategic Energy, headquartered in Pittsburgh since 1986, is an energy management company providing electric load aggregation and power supply coordination services. For a management fee, Strategic Energy buys wholesale power under long-term contracts for direct delivery to retail customers under long-term contracts. The company operates in nine states with retail choice, including California, Connecticut, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania and Texas. Majority-owned by Great Plains Energy (NYSE:GXP), Strategic Energy’s website is www.sel.com.