HOUSTON, Aug. 27, 2003 — APX, a provider of transaction processing services for the electric power industry, announced Wednesday that it has completed Qualification Testing for the Midwest Market Initiative market trials, scheduled to begin this November.
In June APX announced its intentions to expand its platform to provide an interface to the Midwest ISO (MISO) during the market trials, and will be ready when the market opens its doors to competition on March 31, 2004.
“We can now officially call ourselves a participant in MISO’s market trials this November,” said John Yurkanin, CEO of APX. “We look forward to offering our proven and advanced service based technology to provide a flexible yet reliable platform to ensure a smooth entry and transition to a competitive marketplace for all MISO participants.”
APX will offer market participants a combination of technology and back office services that will allow them to submit generation offers, demand bids, virtual supply offers and demand bids, and external supply and demand bids in the Day-Ahead market. Market participants can also submit changes to offer curves and demand response offers in the Real-Time market.
During the settlement process, participants will have access to fully validated settlement statements, including credits and charges for Financial Transmission Rights. APX’s advanced technology will handle all data transfers including uploads/downloads, market information and clearing prices.
APX’s Operations Department will also act as the product support call center, available 24 hours a day, seven days a week.
About APX Inc.
As an independent transaction processing service provider for wholesale electric power markets, APX processes more than 700 million megawatt hours per year for approximately 200 client companies in North America and Europe. Services include scheduling and settlement, trading platforms and brokerages, generation information, and demand response. A privately held company, APX has offices in California, Texas, Connecticut, England, and Norway. More information is available at www.apx.com.