Ten-Year Power Deal to Deliver Massive Savings
HOUSTON, July 16 /PRNewswire/ -- LifeBridge Health, Inc., one of the
largest hospital systems in Baltimore, MD, has just concluded the first
year of a ten-year power acquisition program designed by Amerex Energy
Services. The highly innovative program, the first of its kind in the
Mid-Atlantic, achieved a savings of $3.8 million for LifeBridge Health in
the first year alone. Working with Amerex, LifeBridge Health secured a low
fixed price for the first five years of the agreement and expects to
realize similar savings over the life of the program.
Amerex Energy Services, a division of Amerex Brokers LLC, signed the
ten-year power contract in 2007 for three hospitals under LifeBridge
Health, Inc.: Sinai Hospital of Baltimore, Northwest Hospital and Levindale
Hebrew Geriatric Center and Hospital. All three are in Maryland.
"Amerex's hands-on concept and use of market intelligence really paid
off for us," said Lewis Poe, Director of Plant Operations for LifeBridge.
"We reviewed many proposals before deciding on the Amerex Managed Account
approach. Needless to say, we made the right choice."
Amerex also assists LifeBridge Health in purchasing natural gas for its
main facilities, and has recently secured competitive third-party power
prices for the smaller, off campus accounts affiliated with the hospitals.
"We are extremely gratified that a respected member of the healthcare
industry like LifeBridge selected Amerex to assist in the procurement of
their energy requirements," stated Jeff Roberts, Senior VP of Amerex Energy
Services. "A paradigm shift has occurred in the energy market place. Price
transparency is a necessity. The current environment has demanded the
development of a price risk management strategy that balances the goals of
cost savings and long-term budget stability. We're very glad to provide
this service to LifeBridge."
For more information please visit http://www.amerexenergyservices.com.
About Amerex Brokers LLC
Founded in 1978, Amerex is a leading over-the-counter energy brokerage
offering services in electricity, natural gas, emission credits and
allowances, renewable energy credits, retail energy procurement and energy
data services. From its office in Houston, Amerex offers liquidity and
timely execution to meet the needs of a global client network of more than
1,000 firms including thousands of traders and risk management
professionals. For additional information, please visit
http://www.amerexenergy.com. Amerex Brokers LLC is a wholly-owned
subsidiary of GFI Group Inc. (Nasdaq: GFIG), a leading inter-dealer broker
specializing in over-the-counter derivatives products and related
securities. GFI provides brokerage services, market data and analytics
software products for a range of credit, financial, equity and commodity
instruments. GFI operates one of the largest OTC energy brokerage
businesses in North America both directly and through its wholly owned
subsidiaries Amerex and StarSupply.
For more information, contact:
Melissa Gist
Marketing Director
Amerex Brokers LLC
281-340-5206
mgist@amerexenergy.com
Forward-looking statement
Certain matters discussed in this press release contain forward-looking
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whether as a result of new information, future events or otherwise.
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