Energy & Culture

Client Spotlight - Spring Creek Towers

Written by 5 | April 2, 2021

Spring Creek Towers (SCT), commonly known as Starrett City, is a self-contained urban community that is home to approximately 18,000 residents spread out over 46 brick towers on 153 acres overlooking Jamaica Bay in Brooklyn. SCT offers residents a unique mix of amenities within its borders including schools, a shopping center, a post office, and a sports club.

Managing the operations and natural gas procurement of SCT’s on-site cogeneration plant, which provides electricity, heating, cooling, and hot water to all residents is a top priority for the facilities management team. SCT engaged 5 as a trusted advisor on their plant decentralization project that required a detailed energy rate analysis which then led to procurement based on that analysis. 5 coordinated the efforts of SCT's engineers and representatives from their utility, National Grid, to optimize the tariff rates based on several different potential operating scenarios for the plant. Ultimately, SCT secured the appropriate structure and tariff to allow the project to succeed based on 5’s analysis and support.

After the operational decisions were made, 5’s unique industry knowledge was leveraged to construct and negotiate a custom gas contract that enabled SCT to incrementally hedge portions of its forward energy requirements. The strategic position management services are informed by SCT’s risk tolerance and budget objectives and active monitoring of underlying market technicals and fundamentals.

“The team at 5 has been a huge asset to Spring Creek Towers. We think of them as an extension of our own team and have peace of mind knowing we have ready experts to engage in complex energy matters.” Eric Magidson, Chief Financial Officer, Brooksville Company