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Building Owners Charged Up About Deregulation

FT. WORTH-Bass Enterprises and Crescent Real Estate Equities are close to deciding who gets the contract as retail electric provider for the Jan. 1, 2002 deregulation. It's a powerful decision fueled by reliability and savings for building owner and tenant.

By Connie Gore | Updated on November 01, 2001

FT. WORTH-Texas building owners are making out their lists and checking them twice to decide which retail electric provider is a good match for the up and coming deregulation that goes into effect Jan. 1, 2002.

Bass Enterprises Production Co. Fort Worth and Crescent Real Estate Equities Co., also Ft. Worth, have office buildings in a pilot program to test the waters. Bass already has pared its providers’ list to four while Crescent expects to do the same by early next week. Still, it’s not an easy decision, but is one that seems to be carrying a guaranteed cost savings to building owners and tenants, say executives from both companies.

Bass will make its final cut Tuesday, Bud Smith, project manager for Bass’ City Center Development Co., tells GlobeSt.com. It will be a one- to two-year contract that is expected to bring a savings of 5% to 10% in electricity bills. It will boil down to who can reliably provide the best per kilowatt hour rate. And that, says Smith, raises the possibility of commercial property aggregating so that costs can be driven down even further.

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