REPORT TELLS NEW YORK HOW TO SAVE MILLIONS ON ELECTRICITY.(BUSINESS)(Correction notice)

Byline: JULIE CARR SMYTH Business writer

ALBANY -- New York could save $72 million and create 77,000 new jobs by 2010 by implementing the right energy efficiency policies as it deregulates, according to a new study released Tuesday.

Energy bills in the state could fall by as much as 27 percent through efficiency measures implemented by businesses, individuals and utilities, reported the American Council for an Energy-Efficient Economy, an independent, Washington-based group.

Air pollution, meanwhile, could be reduced by 29 percent of what is expected by 2010.

Report co-author Steven Nadel said that $27 billion would have to be invested to …