...Power Efficiency to manage Canary Wharf Group’s involvement in the CRC Energy Efficiency Scheme and advise on lowering its carbon emissions…

London – UK, 9 December 2009 – Power Efficiency, the leading energy procurement and carbon strategy consultancy, today announced it will be providing carbon management services to Canary Wharf Group plc (CWG).

This will enable CWG to meet its commitment to the UK Government’s Carbon Reduction Commitment (CRC) Energy Efficiency legislative scheme, which comes into force in April 2010 and is central to the UK’s strategy for improving energy efficiency and reducing carbon dioxide (CO2) emissions, as set out in the Climate Change Act 2008. It has been designed to raise awareness in large organisations and encourage changes in behaviour and infrastructure towards energy efficiency.

CWG is an integrated property development, investment and management group of companies. Over the past 20 years it has regenerated its 97 acre Estate in East London into one of the world’s premier business districts, constructing over 15 million square feet of office and retail space – more than any other company in London.

CWG’s wholly owned subsidiary, Canary Wharf Management Limited, manages 7.5m square feet of Grade A office and retail space along with all parks, roads and walkways on the Canary Wharf Estate.

Power Efficiency’s carbon management services will ensure CWG meets all the registration and mandatory compliance actions under the CRC Energy Efficiency scheme, including annual auditing of energy usage and performance. Power Efficiency will also undertake all metering, make recommendations for lower carbon consumption, manage the purchasing and recycling of government carbon allowances under the scheme, as well as provide consultancy based on CWG’s position in the league tables that will be published every year.

Power Efficiency has over 10 years experience in the corporate commercial building sector and has successfully managed CWG’s 300+ meters and procurement of over 90 energy supplies for four years, bringing significant savings to the organisation. The appointment of Power Efficiency to oversee the Group’s participation in the CRC Energy Efficiency scheme is part of its continued commitment to achieving greater energy efficiency across its estate.
Peter Kyte, Managing Director of Canary Wharf Management Ltd said of the appointment, “Canary Wharf is always striving for environmental sustainability and energy efficiency is a very important part of this. We have constructed some of the most energy efficient office buildings in the country and Power Efficiency has helped us further lower our energy procurement costs over the past four years. We are confident that, with Power Efficiency on board, we can achieve and exceed our carbon reduction goal.”

Bobby Collinson, Managing Director at Power Efficiency added, “A number of our clients are seeing the benefits of combining their energy procurement and carbon management under one roof, and we’re pleased to be playing a part in Canary Wharf Group achieving its carbon reduction goals. CRC is an opportunity for all large businesses to achieve much greater energy efficiency and combined with strategic procurement can lead to huge savings. Involvement in the scheme can be a complex process to manage, especially for an estate as large as Canary Wharf Group’s, but the savings greatly outweigh the costs of using a service like ours.”

About Canary Wharf Group

CWG is an integrated property development, investment and management group of companies. It is focused on the design, construction, leasing and management of Grade A office space and high-quality retail and leisure facilities on its 97 acre Estate in East London.

Over the past 20 years CWG has regenerated derelict wharves into one of the world’s premier business districts, constructing over 15 million square feet of office and retail space – more than any other company in London.

Canary Wharf is home to many of the world’s leading business organisations, including in the professional services; media, law, energy, financial services and transport sectors. It is also home to over 200 shops, bars, cafes and restaurants, including many of Britain’s leading brands.

The Estate includes 20 acres of landscaped parks and plazas. Canary Wharf hosts over 180 events a year and has one of the UK’s largest collections of public art.

As at 30 June 2009 the Canary Wharf Group investment portfolio was 97.7% let. The weighted average unexpired lease length was 16.9 years.
CWG was named one of the Sunday Times 60 Best Green Companies in the UK in 2009.

Canary Wharf is set for further expansion. In 2008, CWG signed agreements to commence work on the Canary Wharf Crossrail Station and to continue work on a new European Headquarters for J.P. Morgan. KPMG, State Street and Fitch Ratings open new office buildings on the Estate in 2009 and 2010, bringing thousands of new workers to Canary Wharf on a daily basis. www.canarywharf.com
Canary Wharf Group’s environmental initiatives include:

Britain’s highest concentration of ‘green’ roofs covered in Sedum moss and other plant life. This reduces energy use and encourages biodiversity.

A biodiversity action plan to encourage bird and insect life on the Canary Wharf Estate, including endangered and native species.

Building some of the UK’s most energy efficient office buildings, utilising technology such as tri-generation to reuse heat for heating and cooling and ‘active’ facades that reduce heating and cooling requirements.

Collaborative schemes to encourage recycling – the Estate aims to recycle or compost 70% of general waste by 2015.

Green Canary Days to encourage workers and the local community to become more environmentally aware

Registering all Canary Wharf Contractors’ construction sites with the Considerate Constructers Scheme. The company’s average score under the scheme was 37.5 out of 40 in 2008 and it recently won a Gold Award for 20 Churchill Place (State Street).

Maximising the use of waterways to transport construction materials, reducing road congestion and noise and air pollution.

Investment in public transport initiatives including Crossrail, which began construction at Canary Wharf on 15 May 2009.

Encouraging staff and companies to turn off unnecessary lights at night and over holiday weekends.

About Power Efficiency

Founded in 1999 with the prime objective of bringing a fully-rounded, strategic approach to the business of energy management, Power Efficiency is one of the UK’s leading consultancies in helping businesses define and achieve successful energy procurement and carbon strategies. With a management team that has over 100 years experience in energy markets in both the UK and overseas, covering core areas such as energy procurement, energy reduction, auditing and the introduction of new technology, Power Efficiency constitutes a known and respected voice with every key supplier in the utilities markets, and also with legislative bodies, including the UK and EU governments.