Archives of the Mayor's Press Office

Date: Wednesday, March 7, 2001

Release # 062-01

Contact: Sunny Mindel/Curt Ritter
(212) 788-2958
  Gregory Miley/Bruce Brodoff
(212) 312-3523 (EDC)


Mayor Rudolph W. Giuliani today announced that the New York City Economic Development Corporation (EDC), the City's primary vehicle for economic development services, will offer eligible small companies free energy audits. The audits, available to firms with annual electric costs of less than $100,000, will help them identify and implement cost-effective energy efficiency measures, reduce their energy bills, and increase their productivity and economic competitiveness.

"Cost effective conservation measures are a great way for businesses to reduce costs and improve their bottom line," said Mayor Giuliani. "These free energy audits will help business owners decide which energy projects are best for them."

With the recent rise in electric rates, improving energy efficiency is an effective way to lower energy costs. The State recently increased the amount of money available to subsidize conservation investments to approximately $150 million annually. The free energy audits will enable companies to access these new State funds.

"These audits will provide companies with recommendations on how to implement energy-efficient facility upgrades," said Deputy Mayor for Economic Development and Finance Robert M. Harding. "Such upgrades are a solid investment that may offer a pay-back period of as little as one to three years and can provide returns on investment in the range of 30-50%."

EDC anticipates offering approximately 200 free energy audits to industrial firms in the first round of the program. The audits will be conducted jointly with the New York State Energy Research and Development Authority (NYSERDA), a public benefit corporation that was created in 1975 by the New York State Legislature. NYSERDA's responsibilities include making energy more affordable for residential and low-income households as well as helping industries, schools, hospitals, municipalities, not-for-profits, and the residential sector implement energy efficiency measures. Low-cost or free audits are also available for retail service companies.

"Next to rent, energy costs are the greatest operating expense businesses have," said EDC President Michael G. Carey. "These free energy audits will allow companies to save money, helping companies to stay and expand in New York City."

For more information about EDC's energy programs, including how to obtain a free audit, please visit EDC's website at, or call 212-312-3600.

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