Month: February 2016

Fortune asks Eligo CEO Alexander Goldstein about trusting your gut in business

Trusting your gut more often than not comes with the territory of running a business. Decisions often need to be made daily, sometimes even hourly, and it’s your job to be able to solve these problems both rationally and quickly. Most would argue that rationale stems from experience, while being quick on your feet depends on your business style and personality. Where the two seem to meet creates the infamous “gut feeling.” From business leaders to junior staff members, the gut feeling is universal. It speaks all languages and crosses all aspects of business and life.

But, as we have all probably experienced, gut feelings don’t always lead us to the right decision. So how do you know when to trust them? I’ve learned there are two ways to tackle this. The first has always been to approach tough business decisions with knowledge of the past. For example, I almost always try to recount a time in my life I’ve been in a parallel situation by asking myself, “Have I ever experienced anything similar to this?” If you can find similarities in past decisions you’ve made, it can help put your current circumstance into perspective. I have found that the more similar a situation is, the more familiar I am with it, meaning my gut feeling tends to be stronger. Normally, I go with my gut then—the feeling is there because my subconscious is trying to remind me that I’ve done this before.

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Voice of America News asks Eligo’s Mark Friedgan for his predictions about the energy market

The massive decline in oil prices since July 2014 is not only impacting the markets, but it is also a major blow for oil-dependent countries, many of which are struggling to present 2016 budgets and looking for ways to derive growth from non-oil sectors such as infrastructure, agribusiness and services. While the potential is there, it will take time to see yield from these efforts because of the unnatural focus placed on commodity-driven growth during the boom as other areas were largely ignored.

“The energy industry, like other industries, is cyclical and will eventually recover. Once the world’s economies regain their footing and growth trajectories, the demand for oil, and the price, will rise,” Mark Friedgan, COO of Eligo Energy explained. “At that point, the shale producers can resume investing in technology, driving their break-even prices lower and increasing their competitiveness. The energy space will be very interesting in the coming years and will definitely present some opportunities for savvy players.”


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Eligo Energy’s Alexander Goldstein has tips for energy-savvy consumers in “How to Slash Energy Costs to Save Thousands”

Consider replacing your current light bulbs with LEDs since lighting remains a “significant portion of electricity usage,” said Alexander Goldstein, CEO of Eligo Energy, an energy retailer based in Chicago which provides electricity to residential and commercial customers in deregulated states. Another plus is that LED bulbs are up to ten times as efficient and last up to 50 times longer compared to incandescent bulbs. To boot, they are better for the environment compared to florescent or CFL bulbs. In fact, given that lighting can total 5% to 10% of household energy costs, the average consumer can save $75 to $200 annually by switching over to more efficient bulbs.

Those older model computer monitors or televisions that have the cathode ray tubes (CRT) should also be replaced with the newer liquid crystal-display (LCD) screens, because they use less power.

At home or in your business, examine your current servers for your data and consider “consolidating multiple older servers into new more efficient hardware” or simply using the cloud, he said. Servers are large consumers of power and also emit heat, requiring additional air conditioning to keep them at a very low temperature constantly.

If you haven’t swapped them already, power switches with motion sensors are a good method to reduce the use of electricity when a room is empty. The lights will automatically turn off when inhabitants or employees leave for an extended period, making the task of saving power relatively easy.

Some older homes and offices still have their original thermostats. Opt for a programmable thermostat, because you can program temperatures for peak hours of business or use, Goldstein says. With a smart thermostat, consumers can save 30% on their home’s heating and cooling bills.

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Inc. Magazine recently named the stigmatized energy industry as the fastest growing industry in the country.

While it is not surprising to see newly emerging companies attempting to get a share of the energy market, success in a sector receiving poor publicity is more difficult to attain than in other rosier market segments.

Startup Eligo Energy taught me several valuable lessons on what it takes to be successful despite the negative aura that surrounds the energy supply industry.

These takeaways may be applied to any entrepreneur considering starting a technology-driven business.

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Eligo Energy lowering energy costs for more Chicagoans

Eligo Energy announced that it has entered into agreements with the Village of Worth, Village of Stickney, Stickney Township, and the Village of Hazel Crest in Illinois to supply the communities’ municipal aggregations open to residential and small commercial customers.

Eligo Energy’s agreements will deliver electricity to the residents and small businesses of these communities for 24 to 36 months beginning in April 2016.

The Village of Worth’s negotiated rate is $0.07565 per kWh. The Village of Stickney’s negotiated rate is $0.0620 per kWh with a $4.95 Monthly Service Fee. The Township of Stickney’s negotiated rate is $0.06277 with a $4.95 Monthly Service Fee. The Village of Hazel Crest’s negotiated rate is $0.06748 per kWh with a $4.95 Monthly Service Fee.

Reprinted from Energy Choice Matters turns to Eligo CEO Alexander Goldstein for advice in “7 Tips to Help You Save on Your Utility Bill”

When you’re a renter, certain costs are set in stone. Generally speaking, you’ll have to pay the same in rent each and every month. You might also live in a building where certain amenities — like cable — come at a fixed price. But the only thing you do have control over is how much you fork over for utilities. And you might as well save as much as you can here so you can accumulate more money for fun. We turned to Alexander Goldstein, CEO of Eligo Energy, a retail energy provider that delivers electricity to residential and commercial customers in deregulated states, for tips on how to save on the most common utilities.

Ensure Your Windows Are Sealed
“If cold air is leaking in, use sealing tape to properly seal your windows, or consider asking your landlord to help fix it,” advises Goldstein.

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