TXU Energy Services has won a five-year $500 million deal toprovide energy services to 85 of Crescent Real Estate commercialoffices nationwide. Cresent is one of the country’s largest realestate investment trusts.

Under the terms of the agreement, TXU will consolidate, auditand pay all utility bills, provide real-time metering technology,and offer on-line access to customized utility management reports.It also will manage supply-side services, including review ofexisting rate structure and negotiation and procurement of energysupply in competitive areas, and invest in energy efficiency andload management technologies. In addition, it will design, finance,and build energy-related projects on site-specific programs forCrescent.

“Working with TXU Energy Services in what we believe to be oneof the most innovative agreements in the commercial real estateindustry, we were able to develop a utility services program thatis tailored specifically to our needs,” said Jane Page, senior vicepresident of asset management and leasing for Crescent. “By workingtogether to create new ways to manage energy-related costs,Crescent can remain competitive and at the forefront in a rapidlyevolving commercial real estate environment.”

The first phase of the contract focuses on Crescent’s premier,Class A office properties located in Dallas, Houston, Austin,Denver, Colorado Springs, Albuquerque, Phoenix, Miami, San Diego,San Francisco and Washington, D.C. Future plans call for addingCrescent’s hotels and resorts to the portfolio.

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