The City is purchasing 100% renewable power from NRG Energy as part of a deal
BGC Partners subsidiary Amerex Energy Services 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.
Source: Company Press Release