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BGC's Amerex Energy Services Facilitates the City of Houston's Commitment to Buying 100% Renewable Energy
HOUSTON, June 1, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("the Company" or "BGC"), a leading global brokerage and financial technology company,
About this update from Bgc Group, Inc.
[{"type":"text","content":"HOUSTON, June 1, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) (\"the Company\" or \"BGC\"), a leading global brokerage and financial technology company, today announced that its subsidiary Amerex Energy Services (\"Amerex\") served as consultant and adviser to the City of Houston in its recent competitive power solicitation. This resulted in the City purchasing 100% renewable power from NRG Energy, Inc. (NYSE: NRG) (\"NRG\"), which will serve as the City's retail energy supplier. This 100% renewable energy purchase will commence on July 1, 2020 and continue for five years, with the City holding two one-year renewal options. \nAmerex Managing Director, John Bolton commented: \"Providing price risk management guidance for a client of this size and complexity is challenging, but one that fits perfectly within Amerex's boutique-level service offering. Assisting in the development of the 100% renewable pricing structure that considers diverse assets spread across nearly 6,000 meters and incorporating the City's pre-existing 50 MW solar power purchase agreement required a unique and elegant solution. We are very thankful for the trust the City of Houston placed in us.\"\n\"With the support of Amerex as our energy consultants, the City of Houston was able to secure a renewed partnership with NRG, that includes purchasing 100% renewable energy and significant budgetary savings. This was a very complex procurement, but the industry knowledge and expertise provided by Amerex was paramount in closing the deal,\" said Will Jones, Deputy Director, City of Houston. \nAbout Amerex Energy Services:Based in Houston, Amerex Energy Services is a leading energy consulting firm that advises commercial, industrial, governmental and institutional entities in developing and implementing energy management and sustainability strategies. With 40 years of wholesale and over 15 years of retail energy experience, Amerex offers exceptional market intelligence and depth of experience in providing comprehensive energy price risk management services. Amerex Energy Services is the retail consulting division of Amerex Brokers LLC, which is a wholly-owned subsidiary of BGC Partners, Inc. You can learn more about Amerex Energy Services and the BGC family of companies at www.amerexenergyservices.com.\nAbout BGC Partners, Inc.BGC Partners is a leading global...