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There are some commodities penghemat listrik that are essential for one and all, such as crude oil, gasoline, heating oil, propane, electricity and natural gas. These are sources of energy that the world cannot do without. Sensing this, the New York Mercantile Exchange (NYMEX) came up with the idea of transactions related to energy futures, base metals, propane, electricity, precious metals, heating oil, gasoline, natural gas and crude oil. But what it is most renowned for is, electricity futures trading.

To go into a more detailed commentary regarding NYMEX and electricity futures trading–

(1) The first question anyone would ask is, why is electricity being taken as an option for futures trading?

Electricity futures trading is prevalent because electriciy is a popular commodity among traders and investors. The prices never remain constant, they keep changing; generally, they are on the higher side. The last advantage is that electricity is something that is fungible (it can be exchanged or substituted).

(2) It is accepted by the trading community as a liquidity alternative to counter other stocks and bonds investments. So, a large number of people make a beeline to NYMEX. This exchange has the reputation of being a premier platform for transactions concerning precious metals and energy. It is after all, the largest global physical commodity futures exchange!

(3) NYMEX has an affiliate called PJM Interconnection LLC. Statistics reveal this to be the predominant global market for electricity, as more than 44 million clients have been involved with this company till date. Member firms of PJM have a capacity of 137,000 megawatts, or hold 1,000 generating units.

(3) Now, how does one exactly go about this business of electricity futures trading?

Transactions have to be conducted via a broker. And not just any broker, but one who has been recognized and certified by NYMEX as a series 3–commodity futures broker. The “right broker” has to be hunted out, and an account opened with him/her.

(4) Who can be classified as the “right broker”?

This person who represents the investor should be familiar with electricity futures trading, as well as have plenty of experience concerning transactions. It would be preferable to get a person whose focus is only on the electricity market. This ensures that the broker is an expert in this arena, plus time is saved by not diversifying into other areas. There is no conflict of interests between the broker and investor.

(5) Brokers can take up individual committments, work with smaller units, or work with big companies and institutions.

(6) After a particular broker has been selected by the investor, it would be advisable for both to get together ahd have a discussion regarding–what is his/her current financial status, the amount the investor is willing to put in/risk, the objective behind the investment, how much does the investor know about options and methods concerning futures trading, and so on.

(7) A first-timer would be well advised to go through investment options carefully before parting with his/her money. Also, an investor should avoid comparisons with others, since each commodity trading account is customized according to the individual’s requirements. No two accounts are alike.

(8) There are peak hours for electricity futures trading, when business is brisk. They are from 7 a.m. to 11 p.m. Midnight to 7 a.m. are considered as off-peak hours; trading is allowed even during this time. However, www.nymex.com is there to answer further questions if required.

Interesting, these opportunities are changing at amazing speed as most of the providers try to create their place in the market and build market share as quick as possible. The short term nature of deals would basically mean that providers are continuously looking for opportunities for the best added value offers that will ultimately win them business.

Texas has established a buyers market for its consumer. The idea is to provide the customers with the best possible, most economic cost effective electricity. Cheap electricity does not necessarily mean cheap quality electricity. It basically means most cost effective electricity. Try and take the most advantage of the Texas Electricity Market which is primarily created for its customers.

Nevertheless, it may not be easy as it sounds – customer still needs to do some home work before getting to enjoy the benefits such as understanding various electricity guides available in Texas.

THE POWER GUIDE

Public Utility Commission of Texas (PUC) has produced this Power Guide to Electric Choice. In order to help you understand all the changes that have taken place in Texas’ electric market, it is Texas Electric Choice education that campaigns.

PUBLIC UTILITY COMMISSION

The Public Utility Commission of Texas (PUC) is the state agency in charge for directive and supervision of the electric and telecommunication services in Texas. The mission of PUC is to primarily save from harming its customers, encourage competition and promote high-quality infrastructure.

TEXAS ELECTRIC CHOICE

Texas Electric Choice is basically a public education campaign formed by the PUC in order to educate Texans about competition in electricity and various changes in the way the customers buy electricity.

BENEFITS

– Texas’ electric market gives its customers the freedom to choice and is open to competition. This basically means that, Texans have the opportunity to choose the company that sells them their electricity.

– This kind of competition will certainly lower your electric bills and in return will lead to innovative new products and services. Choosing a new Retail Electric Provider is not at all difficult.

HOW TO MAKE A CHOICE

PROVIDER – For most of the Texans shopping for electricity is entirely a new concept. Most of the Retail Electric Providers usually compete by offering lesser prices, renewable energy options, additional customer service benefits or other incentives.

AGGREGATION – An Aggregator basically represents a group of customers, such as faith-based organizations, neighborhood associations or employees. They also conduct various researches on electricity prices, contract terms and conditions, and other services for their customers, and bargains group rates with Retail Electric Providers.

COMPARE – Get in touch with the Retail Electric Providers of your choice and ask for their detail Electricity Facts Label. Also remember to check a recent electric bill in order penghemat energi to find out your estimated monthly usage.

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