Syracuse, NY, May 5, 2008—National Grid today announced an expanded portfolio of energy efficiency programs in its Upstate New York service area to help customers save energy, save money and benefit the environment. With the fundamental objective of advancing the most efficient use of energy as possible to reduce overall demand, the programs include home weatherization, incentives to purchase efficient appliances, interactive online efficiency tools, system infrastructure and co-generation opportunities for commercial, industrial and municipal customers, and additional funding for low-income programs.
"As part of its energy and environmental policy, the State of New York has set an ambitious goal of reducing energy usage 15 percent by 2015," said Tom King, president of National Grid in the U.S. "National Grid is proposing these expanded energy efficiency programs for our customers so that we can together take action to achieve this goal. As a company, we are committed to reducing carbon emissions and assisting our customers with their energy costs. Our cost-effective energy efficiency programs are a way to do both at once."
The proposal is consistent with the New York State Public Service Commission's objective of expanding energy efficiency and dovetails with the findings of a recent McKinsey & Company study, co-sponsored by National Grid, pointing to the potential of energy efficiency measures as the most cost-effective option for mitigating climate change.
According to National Grid, customers are projected to reduce energy use by approximately 4.4 million megawatt hours of electricity and 8.5 million MMBtu's (British Thermal Units) of natural gas, saving more than $350 million, over the lifetime of the efficiency products and equipment provided through these programs.
"We applaud National Grid's leadership in advancing this cost-effective energy efficiency program," said Ashok Gupta, Air & Energy Policy director of the Natural Resources Defense Council. "The proposal presents a model for aligning company and customer interests in reducing New York's energy consumption, helps meet the governor's '15 by 15' energy efficiency goals, reduces consumer bills and addresses global warming."
National Grid has a 20-year track record of successful, award-winning efficiency programs in New England and this proposal leverages that experience for the benefit of its Upstate New York customers, said Tim Stout, National Grid's vice president of energy efficiency.
"Energy efficiency programs are short-term investments for long-term savings," Stout said. "For example, by replacing just five old incandescent light bulbs with new compact fluorescent bulbs, an individual customer can save an estimated $9 per month on their electricity bill, which outweighs the estimated monthly costs of implementing these programs." National Grid's proposed programs will add approximately $1.50 each to the average residential customer's monthly electric and gas bills. The proposal, filed April 30, is subject to review and approval from the Public Service Commission.
The proposed programs are:
