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,
klrikardsen@cantor.com
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SOURCE BGC Partners, Inc.