LEXINGTON, Mass. and FOREST, Va., January 22, 2003 — Excelergy® Corporation and Energy Solutions Plus Inc. (ESP) announced Wednesday they have entered into a strategic alliance to enable energy generators, wholesalers and marketers to profitably do business in the new wholesale energy market currently being implemented by the Midwest ISO (MISO) and the Southwest Power Pool (SPP).
MISO/SPP are scheduled to begin market participant training in Q1 2003, with formal registration beginning in the second quarter. Market trials are planned to start in August, preceding the launch of the Midwest Market scheduled for December 2003.
The Midwest Market Rapid Entry ProgramSM will combine ESP’s successful wholesale business and technology consulting experience with Excelergy’s award-winning Excelergy Trader BackOfficeTM software platform designed to optimize and accelerate the energy delivery to cash cycle in real-time physical markets.
The rapid entry program will deliver MISO/SPP-specific connectivity, collaborative communications and high performance transaction management for new and existing market participants, while automating critical processes such as bid management, deal capture, scheduling, shadow settlement, and network billing and settlement.
“The joint ESP-Excelergy solution will provide MISO/SPP market participants with the back office efficiency and accuracy they need to profitably do business in this evolving market,” said Excelergy president and chief executive officer Bill Mahoney. “Not only will this solution enable companies to handle the increasing volume and complexity of transactions in the Midwest Market, it will deliver to them quicker, more efficient revenue and cash cycles.”
“The emergence of new wholesale markets, such as the Midwest Market Initiative driven by MISO/SPP, is creating complex business and technology challenges for market participants,” said Peter Ferguson, principal of Energy Solutions Plus. “The need for an early and clear understanding of the market rules and requirements is paramount to successful entry into the new market. Automated and efficient transaction management, bid management, scheduling and shadow settlement capabilities will be necessary for long term success.”
Currently, the Midwest Market participants can purchase power from one another through an advance reservation with the Midwest ISO. During peak demand, when prices can be volatile, the new energy market will provide buyers and sellers day-ahead and real-time market prices for the delivery of electricity. Many leading energy companies are moving to deploy advanced IT systems fully capable of handling multiple market rules and requirements, allowing them to seamlessly do business across multiple RTOs.
About Energy Solutions Plus Inc.
Energy Solutions Plus (ESP) is a provider of specialized integration and consulting services to companies within the energy and utility industry. With approximately 85 professionals in the North American market, ESP leverages business knowledge and an intimate understanding of the industry with technical capabilities to deliver cost-effective solutions.
Core competencies include a thorough understanding of the electric and gas markets in the US and Canada; lifecycle application developments and support; program and project management; and deep product knowledge of CIS, CRM, metering, scheduling and settlement applications. More information is available at www.energysolutionsplus.com.
About Excelergy® Corporation
Excelergy is a specialist in high performance software platforms that increase revenues, improve cash flows and reduce costs in the energy/utility industry and other restructuring value chains.
Excelergy’s flexible, scalable software systems automate forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care. They are based on an open, object-oriented, Web-based, native XML technology architecture. Excelergy has its North American headquarters in Lexington, Massachusetts, its European headquarters in London, England and its Asia-Pacific headquarters in Melbourne, Australia. More information is available at www.excelergy.com.