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Power to the Savvy
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Business New Haven
10/30/2000
By: Priscilla Searles
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The anticipated deregulation of the state's electric utilities presented the perfect opportunities for entrepreneurs to dive in and grab a piece of the pie. That's what Erik J. Barone did. In 1998 Barone and three friends founded NRG Solutions, LLC.
NRG is a full-service energy and energy-management firm specializing in providing packaged solutions to small and mid-size businesses with respect to their energy needs. “We chose this market because no one is focusing on their energy needs,” explains Barone.
It took $2 million to get the company rolling. “We were fortunate enough to have relationships with people that invest in technology-based new companies,” says Barone, the company's president.
“Our decision to start this company was obviously based on the deregulation of the market. We felt this was the perfect time, because the risks in a deregulated market are being borne by the customer rather than the local utility company.”
The company is in the process of establishing an office in New Haven. At present it has one in Wethersfield and another in Stamford. With 12 employees, NRG expects to expand to 25 to 30 employees within a year.
Barone explains that the need for an office in New Haven is critical. “For approximately two years we have been managing New Haven's streetlight energy costs. We were contracted to do this to help New Haven keep its energy costs down while improving the overall service to residences and businesses throughout the city.
“We're also working the Crown Street parking garage,” adds Barone. We managed the entire replacement of the electrical system and the lighting. The result of this is the city will save $20,000 annually on lighting costs in this facility and improve lighting levels by 25 to 50 percent. It isn't just saving energy, its improving safety. We're working on similar projects throughout the state.“
Barone believes it is important that commercial or residential consumers study their options in a deregulated market, particularly the small business owner. “Energy costs for the small-business owner represents a large portion of their operating costs - a big incentive to look at their options in this deregulated market.
“NRG is a relationship-driven business,” says Barone. “We have to deal with people directly, not through direct mail or on the phone. We expect companies to provide competitive electricity in the deregulated market, and our mission is to provide complementary energy-efficient services that help the small-business owner conserve electricity. We help with energy-efficient lighting, heating, insulation, refrigeration controls - real-time, demand-side management.
“Most people take the availability of energy for granted,” observes Barone, “but now people will be able to choose what sources they want their energy from, such as gas, oil, coal, nuclear and 'green' energy sources. This should make people more aware of the need to conserve.”
“The better we can manage energy costs the less we will rely on uncontrolled factors,” says Barone. “Managing energy costs is the single most important issue, and will be for the next four to five years. Look at how hot a topic it is even with the Presidential race.”
As to the future of the energy industry, Barone is more than confident. “The electric utility industry is today where the telecommunication industry was in the late '70s. Look what's happened to that industry during the last 20 years: new technology, new services. This is what will happen the energy industry.
“We've recently received patents in wireless technology that will allow us and the small-business owner to better manage and control energy costs,” says Barone. “Things are starting to evolve in the energy industry.”
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