Energy Procurement | Lower Energy Costs for Condos, Co-ops, and Rental Buildings

FirstService Residential helps boards and building owners significantly reduce annual energy and utility costs through exclusive, cost-saving procurement programs. Our procurement specialists leverage the collective consumption of our expansive portfolio of managed properties to negotiate favorable terms and competitive pricing. They also work closely with boards and building owners to analyze their energy needs and develop personalized, cost-effective plans.
 
The solutions we offer are often priced well below alternative procurement programs available to multifamily residential buildings – another unique benefit of partnering with FirstService Residential.
 

Energy Aggregation Programs for Condos, Co-ops, and Multifamily Rental Buildings

By partnering with FirstService, our clients gain access to FirstService Energy, our trusted energy advisory affiliate that partners with a diverse portfolio of energy suppliers. This includes our exclusive energy aggregation program, one of the largest residential aggregation programs in the United States.
 
FirstService Energy leverages the combined energy utilization of hundreds of properties managed by FirstService Residential and bulk buys natural gas and electricity. That means considerably lower energy costs compared what boards and building owners are typically charged by local utility companies.
 
There is no cost for your building to participate in our aggregation program and no need to overhaul existing energy systems.
 
Participants don’t need new equipment, meters, or account numbers. In the event of an outage, the local utility company (Con Edison or National Grid in New York City) is still responsible for servicing the energy lines.

In just three years, our clients saved over $9 million in electric bills and $5.5 million in natural gas costs through our aggregation program. This represents a 13% average reduction in energy rates.
 

Community Distributed Generation (CDG) Programs

FirstService Residential offers boards and building owners direct access to Community Distributed Generation (CDG) programs with highly competitive pricing. This is possible because we leverage the size of our management portfolio to negotiate favorable terms for our clients.
 
CDG programs are among the latest initiatives endorsed by New York State to bolster the production of clean, resilient, and affordable energy. Unlike power plants, CDG facilities are typically smaller, privately owned sites where electricity is generated, stored, and distributed back to the local power grid.
 
Buildings subscribed to a CDG program receive an allotted number of energy credits determined by electricity usage in the building. The electricity will still be delivered by the local utility company, and the credits offset electric delivery fees built into a typical statement. Average savings range between 6% and 10% each month. While this may seem like a nominal percentage, the savings can be significant, especially for large multifamily buildings, amenity-rich properties, or mixed-use residential buildings with one or more commercial tenant.
 
In 2023, a luxury condominium building in Lower Manhattan secured $70,000 in credits through our exclusive CDG program.
 

Client Success Stories – Energy Procurement and Utility Costs

Fluctuating energy prices can significantly affect your property’s energy bill and operating budget. By taking a proactive approach to energy commodity purchasing, our experts help our clients take control of their annual energy costs.
 
Take a look at the significant savings we’ve delivered to our clients.





 

$88,000 in energy savings | 49% reduction

FirstService Energy’s procurement team cut yearly energy costs in half for this 58-unit building.

 

$180,000 in energy savings | 41% reduction

FirstService Energy recommended an Index Plus Adder plan to yield massive savings for this 585-unit condo.

 

$141,000 in energy savings | 19% reduction

In our first year managing this 276-unit property, we worked with the board to design an energy aggregation plan that drove down costs.
 

Contact FirstService Energy’s procurement specialists to create a plan that fits your budget and energy needs.

To learn more about our personalized energy solutions, contact our experts today at [email protected]. You can also learn more about our unrivaled energy advisory services here.


FirstService Energy is a NYSERDA Multifamily Performance Partner, a member of the 2024 NYSERDA Empire Building Challenge Cohort, a member of the NYC Mayor’s Carbon Challenge, and a participant in the US Department of Energy and HUD’s Better Buildings Challenge.