The primary focus of the ERCOT (Electric Reliability Council of Texas) broking desk is power and natural gas in heat rates, fixed price power and Houston Ship Channel gas. The growing economy and population in Texas has attracted significant attention and Tullett Prebon is a market leader in pricing and execution for its customers. The market is currently a physically delivered market, though the expected conversion from a zonal market to a nodal market in 2009 will facilitate higher volumes through more financial institutions’ involvement. The present customer base ranges from pure utilities to major investment banks. Customers of the ERCOT desk benefit from staff with a collective 50 years of experience in power broking and trading.
