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.
Amerex 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."
"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.
About 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.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage and financial technology company. BGC's offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP".
BGC Partners is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
CONTACT: Karen Laureano-Rikardsen, 1-212-8294975, firstname.lastname@example.org
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SOURCE BGC Partners, Inc.