2006

Immediate           February 23, 2006
CONTACT:          Peter Sigurdson (NYSERDA) 
                          716-842-1522 ext 3006   
                          phs@nyserda.org
                          Tony Sanzo (Sanzo Beverage) 
                          716-372-0330

Sanzo Beverage Saves Money on Energy Costs, Loan Payments By Utilizing New York Energy $mart^SM Loan Fund

Olean, NY - Sanzo Beverage Co. Inc. has received low-interest financing through the New York State Energy Research and Development Authority (NYSERDA) for upgraded insulation at its newly expanded distribution center and office complex on Route 16.

"NYSERDA's partnership with Sanzo Beverage will help them lower their energy costs and remain competitive within the marketplace," said NYSERDA President Peter R. Smith.  "By using the New York Energy $mart^SM Loan Fund, Sanzo Beverage saved more than $26,000 on interest charges associated with the purchase and installation of wall and roof insulation."

"Deciding to seek the interest rate reduction through NYSERDA for the insulation work at our expanded facility was a no-brainer," said Anthony Sanzo, CEO of Sanzo Beverage Co. Inc.  "The application process was simple, and the loan fund covered both the purchase and installation cost of wall and roof insulation.  The added insulation should help reduce our utility bills."

Sanzo Beverage utilized the New York Energy $mart^SM Loan Fund to borrow $154,173 from Five Star Bank (formerly First Tier Bank & Trust) to finance the purchase and installation of insulation.  The Loan Fund reduced the amount of interest paid on the borrowed money by four percent, thereby reducing the base loan rate from 6.39 percent to 2.39 percent, thereby saving the beverage dealer $26,223 in interest charges.

The New York Energy $mart^SM Loan Fund provides for a four percent interest rate reduction on commercial loans secured for approved energy-efficient measures.

Loans can be up to $1 million with a ten year term through participating lenders within New York State. The New York Energy $mart^SM Loan Fund is not loan guarantee, and participation in the program depends on the credit worthiness of the applicant.

Funding for the Loan Fund and other NYSERDA incentives are provided through the New York Energy $mart^SM program, which lowers electricity costs by encouraging energy efficiency as the State's electric utilities move to competition. The programs are available to all electric distribution customers (residential, commercial, institutional, and industrial) of Central Hudson, Con Edison, NYSEG, Niagara Mohawk, Orange and Rockland, and Rochester Gas and Electric.

New York Energy $mart^SM programs are funded by a System Benefits Charge (SBC) paid by electric distribution customers of participating utilities. NYSERDA, a public benefit corporation established by law in 1975, administers SBC funds and programs under an agreement with the Public Service Commission.

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