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Eligo’s Mark Freidgan talks crude oil price’s effect on the energy sector in Voice of America

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Demand for natural gas dropped to a 31-year low in recent weeks, while storage remained at all-time highs. Davis said, “With the advent of liquid natural gas (LNG) exporting, you now have a set global price. LNG will now be exported around the world, and this oversupply will start to draw down leading to higher prices in natural gas.”

Another factor contributing to the surge in stocks is participation from the financial sector, which was largely unexpected because low-to-negative interest rates are a challenge to bank earnings and growth. Just this Thursday, the European Central Bank (ECB) announced it was cutting its main interest rate and expanding its massive bond-buying program.

Steven Kalayjian of KnowVera said more Quantitative Easing (QE) from central banks is bad for the markets because it artificially inflates asset prices.

“Since 2008, global central banks, including the Federal Reserve, have cut rates over 650 times, which has not spurred any economic growth. In fact, global GDPs are in a decline,” Kalayjian said. “The recent rally is based on false hope of more Quantitative Easing when markets should be moving on solid fundamentals like strong corporate earnings and healthy economic data.”

Mark Friedgan, Co-Founder & CIO of Eligo Energy, is in agreement with Kalayjian. “While QE may have been necessary to preserve the global economy when it began, after more than seven years of various forms of QE worldwide, it must eventually end,” Friedgan said. “The concern I have is that this end to artificial government influence on the economy will result in a day of reckoning for investors who have been chasing yield in both exchange-traded assets and private investment. The economy and markets must prove that they can survive and grow substantially without this government tailwind.”

Read the full article and see the video at Crude Oil Rebounds

Eligo’s CEO helps consumers with choosing an energy provider in AltEnergy magazine

Why schools should have the right to choose their electricity provider?

We believe that all customers should have a right to choose their own electricity supplier.  Given the likely savings that customers making the choice are likely to experience, in the age of ever-tight budgets, schools would be able to apply the saving in other areas.

 

Why incentives for AES’s to expand energy efficiency programs could benefit both schools and consumers?

There has been a lot of recent media attention surrounding how much Michigan schools have saved with deregulation. If more schools could participate, (or more consumers, small businesses or even big businesses) think about how much money could be saved. Over time, the amount saved would add up, saving hundreds of thousand dollars on energy bills (as seen by the Michigan public school systems).

Continue reading at Choosing Your Own Energy Provider

Eligo’s CEO has some money saving tips in CBS’s Small Business Pulse

3 Ways To Keep Costs Down By Saving Money On Your Business’s Utility Bills

Opening and operating your own business is by no means cheap. There are a number of different important fixed and variable costs that you’ll always have to pay, including rent, salaries, insurance, maintenance and utilities, which, when added up can come out to a lot of money. So when there’s an opportunity to save major bucks, wouldn’t you want to take it?

I figure that any business owner would answer the above question with a resounding “Yes, of course I want to save money when and where possible.” Here is a small checklist of things you can do to ensure that your energy bill remains low so you can put your money to better use, improve the business, employ top talent and make yourself more profitable.

 

Conduct a light audit

screen shot 2015 08 31 at 3 41 10 pm1 3 Ways To Keep Costs Down By Saving Money On Your Businesss Utility Bills

Did you know that lighting accounts for nearly 30 percent of your energy bill? Because LED lights consume 80 percent less energy that traditional light sources, and they last 40 times longer, switching all of your lights to LED bulbs can stop you from wasting energy, which ends up reducing your energy bill. There are tons of companies that will offer a free lighting audit. Check online for local companies willing to conduct an audit of your offices so you can minimize your lighting bill and maximize your savings.

continue reading at 3 Ways to Keep Costs Down

Eligo’s Mark Freidgan interviewed about the rebound of crude oil on Voice of America

“Since 2008, global central banks, including the Federal Reserve, have cut rates over 650 times, which has not spurred any economic growth. In fact, global GDPs are in a decline,” Kalayjian said. “The recent rally is based on false hope of more Quantitative Easing when markets should be moving on solid fundamentals like strong corporate earnings and healthy economic data.”

Mark Friedgan, Co-Founder & CIO of Eligo Energy, is in agreement with Kalayjian. “While QE may have been necessary to preserve the global economy when it began, after more than seven years of various forms of QE worldwide, it must eventually end,” Friedgan said. “The concern I have is that this end to artificial government influence on the economy will result in a day of reckoning for investors who have been chasing yield in both exchange-traded assets and private investment. The economy and markets must prove that they can survive and grow substantially without this government tailwind.”

Watch the video here Quantitative Easing

Eligo CEO talks to The Street about “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.

 

Read the full article at Slash Energy Costs

Eligo’s Alexander Goldstein explains “5 Effects Low Gas Prices Have On The Economy”

For months, American drivers have enjoyed near historically low gas prices, with the national average dropping to only $1.89 per gallon.

Even President Barack Obama sees the benefits of low gas prices, commenting “gas under two bucks a gallon ain’t bad,” in last week’s State of the Union speech. Behind the huge drop in gas prices is an even bigger collapse in the price of oil, from more than $100 a barrel in 2014 to just under $30 a barrel this week.

So plan that road trip, America. Gas prices are at historic lows and could even keep declining, which is already having several surprising side effects.

 

 

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3: It Will Become Easier To Save Money

“Lower gas prices mean that the cost of transportation and heating will be lower,” Alexander Goldstein, founder and CEO of Eligo Energy told The Daily Caller News Foundation. “It is no surprise that consumers will save the money that they aren’t putting into their gas tanks. According to recent studies, Americans saved 5.5 percent of their income in November because they spent less money on utility bills and gas….A fall in oil prices is effectively like a free tax cut.”
U.S. consumers spent $370 billion on gasoline in 2014, meaning a 28 percent price drop is equivalent to a $102 billion tax cut. Low prices at the pump are enormously beneficial to American households who can now use money not spent on gasoline to save more, pay down debt, or buy other goods.

American households are expected to save $700 to $750 at the pump this year, according to analysis by the Energy Information Administration.

Read the full article at Low Gas Prices

FOX News and Eligo’s CEO have “15 Ways to Take Control of Spiraling Energy Costs”

Offices come with their own particular set of energy savings challenges. Maintaining buildings systems and creating the best possible work environment for tenants, all while maximizing energy savings is hardly a simple undertaking. Unfortunately, even the most experienced building and facilities managers can make simple mistakes that lead to unnecessary energy consumption and heightened electrical bills.

To navigate these challenges, we have collected and debunked leading office energy myths, found the top 5 ways to save money on your energy bills and explain the most common mistakes regarding office energy use:

1. Always buy EnergyStar products.

Products with an EnergyStar mark are the most energy efficient and will save you a considerable amount of money in energy costs compared to standard models. So make sure all of the office appliances bear the mark to ensure you don’t miss out on easy savings.

2. Turn the lights off when you leave the room.

Leaving a light on will always consume more energy than turning it on and off, as needed. If the bulb is on, it is using electricity, and if it’s off, it isn’t — it’s as simple as that. A light bulb doesn’t use extra electricity turning itself back on. Instead of leaving a light on in an empty conference room, make it a habit to turn off your lights when not in use. Using natural light during the day time will reduce the amount of energy you use each day.

Continue reading at Energy Costs

Eligo’s Alexander Goldstein talks long term effects of cheap gas in “Might Consumers Ultimately Pay the Price for Cheap Fuel?”

As this graph from the American Automobile Association (AAA) shows, the U.S. average price for a gallon of gasoline has fallen dramatically since the second half of 2014. As of February 8 of this year consumers were paying an average of $1.74 per gallon of gasoline, representing a 44-cent year-on-year decline, according to AAA. Barring any significant supply disruptions, AAA expects the low-price trend to continue for the near term.

A Limited Victory?

“Consumers are definitely the biggest winners when it comes to cheap gasoline,” said Alex Goldstein, founder and CEO of Chicago-based energy retailer Eligo Energy. “They are able to immediately see the difference of lower prices at the pump in their checkbooks and as a result will be more likely to use their savings in other areas of the economy.”

Industries such as manufacturing, agriculture and transportation also benefit from low fuel prices, said David Holt, president of the Consumer Energy Alliance (CEA), which counts representatives of those sectors among its membership.

“Reducing the cost of energy for those sectors of the economy helps their bottom line,” he said.

Continue reading at Cost of Cheap Gas

Eligo CEO explains state-wide alternative energy options in “It’s time for energy deregulation in Michigan”

In the old model of city life, most people only had one choice for utility providers in Michigan. Whether it was the phone company or the electricity provider, one company had a monopoly. While this removed the requirement to research different providers, it also meant that there was little room for individual choice. If your local utility company offered poor service or high prices, there was little that could be done about it.

Today, energy deregulation varies by state. The majority of states, like Indiana, have completely regulated markets, which means there is only one energy provider. Texas is an example of a deregulated state with a completely open market that allows utility customers to choose from a variety of energy providers. (more…)