On October 26, Enron launched EnronOnline (www.enrononline.com), a global Internet-based transaction system for wholesale energy and other commodities. EnronOnline will allow participants to view commodity prices in real-time and also directly transact with Enron free of commission. The transaction system was scheduled to go live at the end of November.
Enron`s customers will be able to access several hundred traded products through EnronOnline. The company will leverage its wholesale market expertise to publish real-time prices for power, natural gas, coal, weather products, liquids, petrochemicals, pulp and paper, emission credits and other commodities in the Americas, Europe and Asia. It will also continue expanding web-based commodity and product offerings globally.
The company explained that unlike other Internet commodity service providers, it doesn`t match buyers with sellers. Customers will be able to instantaneously conduct transactions directly with an Enron company as a principal.