July 2021 - Quarterly Market Letter
On behalf of the team at 5, I am pleased to forward our market letter for the second quarter of...
Eric Plateis has more than 30 years of experience in commodity trading and risk management. Before launching 5, Eric served as Vice President of Portfolio Risk Management at First Choice Power, overseeing all trading and risk management activities, as well as retail pricing and load forecasting. Eric previously served as the Chief Risk Officer for Juice Energy, and the Vice President for both the Bank of Montreal and Constellation Energy, where he managed structured portfolios for the West and ERCOT. Eric started his career in the “pits” on the floor of the New York commodities exchanges.
In his role as Chief Risk Officer at 5, Eric focuses on educating clients and team members on how to manage potential market risks through various purchasing strategies, taking into account what to buy, when to buy, and how to buy. Eric also provides insight on technical market analysis and financial modeling and serves as 5’s consummate, complex problem solver both internally and with clients.
Eric has a bachelor’s degree in Accounting from Boston University. He has held board seats at the Commodity Exchange, Inc. as well as NYMEX and was Vice-Chair of the COMEX Governors Committee.
Eric’s Why: “Initially, my desire to start 5 was driven by the lack of value end-use customers were getting from the broker and consultant segment of our industry. Clients needed a full-service consultant to help them strategically navigate the commodity market, picking the correct product, understanding the market, and managing the regulated delivery side of their bill. We have mastered this since day one. Now, I believe our goal is to change how business is done by ensuring we deliver value to all of our constituents – clients, employees, suppliers, and anyone who needs or wants energy expertise and advice.”