ATLANTA, Ga., Sept. 17, 2002 — RETX, a developer of Web-based solutions for the energy industry, has been approved for an investment of over $3 million ($4.8 million Canadian) from Canadian telecommunications company, SaskTel, announced Ross D. Malme, RETX President and CEO.
The SaskTel investment will be used by RETX to continue the growth of its customer base among electric utilities, ISOs and other retail electric energy services. RETX’s suite of products gives its customers load management and notification applications that are used in the territories of ISO New England, PJM, and New York ISO.
In addition, the RETX investment will allow the company to further develop enhancements to its present products to better address the requirements for the new Standard Market Design (SMD) announced by the Federal Energy Regulatory Commission (FERC) in its July 31, 2002 Notice of Proposed Rulemaking (NOPR).
Said Malme, “RETX has been on the leading edge of providing successful product solutions to energy companies as the markets have evolved. Now, with FERC’s publication of the SMD NOPR, new milestones have been set in the creation of efficient, reliable and fair wholesale markets, and RETX is in the position to meet those goals. Several of our clients are already planning for implementation of demand response programs as called for in the SMD and I’m pleased to say that RETX is well positioned to support their needs.”
“SaskTel’s commitment to RETX,” said Don Ching, SaskTel President and CEO, “is based on their proven record and the future growth expected in these new markets. At SaskTel we provide state-of-the-art data center capability which is the foundation for RETX’s leading technology and services. Working together we are helping to transform the North American electricity industry in a way that benefits all participants.”
SaskTel is a full service communications company in Saskatchewan, offering complete wireline, wireless, Internet and e-business solutions over a state-of-the-art, digital network. SaskTel maintains investments in companies that provide a variety of products and services. Visit SaskTel at www.sasktel.com.
RETX works throughout North America with electric utilities, load serving entities, ISOs, and retail energy service providers to provide fully integrated, customized and secure Web-based services, including load management, customer enrollment, meter information management, retail settlements, curtailment management, assisting with audit capability, and more. Its Web site can be found at www.retx.com.