Philadelphia, PA, June 29, 2009 — In today’s unprecedented
economic environment, colleges and universities are searching for cost
efficiencies in every facet of campus operations. Faced with a complex
regulatory market and volatile energy prices that have increased as much as 38
percent in a single year, several innovative colleges and universities are now
using an electricity procurement strategy, called Managed Heat Rate, as an
effective means to control prices and reap significant savings.
A new white paper, “Managed Heat Rate – How Colleges and Universities Can
Secure Best Electricity Prices,” developed by ARAMARK Higher Education and
Amerex Energy Services, details how Managed Heat Rate, an innovative product
that capitalizes on deregulation, can potentially deliver long-term savings in
excess of traditional fixed-price electricity contracts. The white paper is
available, at no charge, at www.aramarkhighered.com.
“The current economy has spurred many school officials to explore all avenues
in search of cost efficiencies,” said Michael Leone, Senior Vice President,
ARAMARK Higher Education. “The Managed Heat Rate strategy allows institutions to
reduce the volatility and expense of electricity procurement.”
Available in states that have deregulated electricity markets, Managed Heat
Rate uniquely separates, and then procures, the primary components that
determine ever-changing electricity prices. Colleges and universities can
purchase the components individually when they reach an attractive price point.
“In deregulated states, Managed Heat Rate manages risk by locking-in prices
and securing predictable rates over the contracted period,” said Larry Allen,
Senior Energy Manager, Amerex Energy Services. “This strategy has proven very
effective in helping educational institutions control energy costs.”
The white paper includes Managed Heat Rate case studies highlighting Baylor
University, Loyola University and Saint Xavier University, complete with quotes
from the chief financial officers of these institutions.
Loyola University and Saint Xavier University, both located in Illinois,
became the first educational institutions in the State to contract for
deregulated electric power using a Heat Rate pricing model. Amerex Energy
Services successfully unbundled the electric price components in Illinois,
allowing ARAMARK to introduce this innovative approach to its client partners as
a means to manage escalating utility budgets.
About Amerex
Amerex Energy Services is a division of Amerex Brokers LLC.
Amerex Energy Services is a national energy consultant that provides industrial,
commercial and institutional clients with a wide array of sophisticated energy
and energy-related financial tools designed to provide a stable platform to
manage risk. 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 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 Amerex and
StarSupply businesses.
About ARAMARK Higher Education
ARAMARK Higher Education is dedicated to
excellence in dining, facility, conference center, and stadium and arena
services. ARAMARK enhances the living and learning experience and environment
for more than 600 colleges and universities throughout North America. Dining
services offered include: master planning; culinary development and venue
design; catering; residential, quick-serve, and express dining concepts.
Facility services offered include: facilities maintenance; custodial; grounds;
energy management; capital project management; and building commissioning. For
more information, visit www.aramarkhighered.com.
About ARAMARK
ARAMARK is a leader in professional services, providing
award-winning food services, facilities management, and uniform and career
apparel to health care institutions, universities and school districts, stadiums
and arenas, and businesses around the world. In FORTUNE magazine’s 2009 list of
“World’s Most Admired Companies,” ARAMARK was ranked number one in its industry,
consistently ranking since 1998 as one of the top three most admired companies
in its industry as evaluated by peers and analysts. ARAMARK seeks to responsibly
address issues that matter to its clients, customers, employees and communities
by focusing on employee advocacy, environmental stewardship, health and
wellness, and community involvement. Headquartered in Philadelphia, ARAMARK has
approximately 260,000 employees serving clients in 22 countries. Learn more at
the company’s Web site, www.aramark.com.
About ARAMARK
ARAMARK is a leader in professional services, providing award-winning food services, facilities management, and uniform and career apparel to health care institutions, universities and school districts, stadiums and arenas, and businesses around the world. In FORTUNE magazine's 2009 list of "World's Most Admired Companies," ARAMARK was ranked number one in its industry, consistently ranking since 1998 as one of the top three most admired companies in its industry as evaluated by peers and analysts. ARAMARK seeks to responsibly address issues that matter to its clients, customers, employees and communities by focusing on employee advocacy, environmental stewardship, health and wellness, and community involvement. Headquartered in Philadelphia, ARAMARK has approximately 260,000 employees serving clients in 22 countries.
Contacts:
Dave Gargione
215-238-2559
gargione-david@aramark.com