ECOM-ENERGY uses eBidenergy.com
eBidenergy.com, an application service provider (ASP) of online energy services signed an agreement with ECOM-ENERGY Inc., an independent provider of advisory services and procurement solutions that assists healthcare providers in making their energy management and procurement decisions. The agreement allows ECOM-ENERGY users to take advantage of eBidenergy.com’s EnTreXTM energy procurement system, a software application whereby energy suppliers may bid to supply energy consumers with their gas, electrical, or other energy needs.
Dynegy Goes Live with ORIEN
OpenLink (www.olf.com), provider of energy and financial trading and risk management software solutions, announced that Dynegy Inc. has licensed OpenLink’s new ORIEN technology. Through ORIEN, Dynegy has implemented a seamless link between its Dynegydirect online trading system and the company’s internal trading and risk management system, OpenLink’s Endur. The result is a real-time deal entry environment for online transactions that delivers a complete up-to-the-moment picture of Dynegy’s position and exposure through a tight integration with Endur.
Energy Services Group gets new client
Energy Services Group (ESG), a source of managed data processing services for competitive energy markets, entered into agreement with AllEnergy Gas and Electric Marketing Co. to support their gas and electric marketing efforts for commercial customers in the Northeast. ESG manages back office EDI transaction processing and provides trading partner management.
ICE crosses $1-billion mark
IntercontinentalExchange (ICE), an electronic marketplace for OTC energy and metals products, crossed the $100 billion combined notional value mark, representing over 100,000 trades, only eight months since ICE went live in August 2000. More than 1,000 energy and metals traders worldwide have completed transactions on ICE. Thousands more log on to ICE each day to view and trade more than 600 listed products for settlement and delivery.
Reliant selects TIBCO
Reliant Energy Services, will use TIBCO Software Inc.’s real-time e-business infrastructure software to automate settlement and straight-through processing of online energy sales and purchases, and to give its employees online real-time access to the energy trading process. TIBCO’s technology will automate Reliant’s energy sales and purchase process by linking Reliant’s online energy trading software applications to its internal enterprise systems. This will allow real-time information to flow from Reliant’s online wholesale energy-trading floor directly into its back-office settlement systems.
TradeSpark posts 1Q2001 volumes
TradeSpark, a comprehensive energy trading marketplace, announced a 56 percent increase of its trading volume first quarter 2001 over fourth quarter 2000. The electronic marketplace powered by eSpeed trading technology traded more than $18 billion worth (notional value) of energy products during the first quarter. The two most traded products were natural gas and electricity, respectively. TradeSpark experienced a 90 percent increase in the amount of natural gas MMBTUs traded, and a 17 percent increase for electricity MWh from the prior quarter.
Planalytics upgrades tools
Planalytics Inc. released a new version of Weathernomics Gas Buyer, a Web-delivered financial risk management tool for purchasing and hedging natural gas. New features and capabilities include a transaction history page, a mark-to-market tool to track trades and measure performance, a live options contract calculator, and a monthly detail page that shows trading results for each month.
UniGridEnergy adds Demand Exchange
UniGridEnergy plans to add Demand Exchange to its array of services. Demand Exchange allows energy buyers to take advantage of high market prices by reducing their demand and receiving payments for the reductions. Utilities benefit by using those reductions to limit obligations during times of potential capacity shortage and high market prices. Demand Exchange lets buyers decide on a day-ahead basis when and for how long they are willing to reduce their need for power. UniGridEnergy hosts an on-line energy marketplace and is partnering with APOGEE Interactive Inc. to license its proprietary Demand Exchange software.
FEA and FAME form alliance
Financial Engineering Associates Inc. (FEA) is forming an alliance with FAME Information Services Inc. to deliver a comprehensive analytical solution that combines quantitative risk analytics with quality market data for the global energy, power and financial markets. Focusing on energy, financial and commodities markets, FEA develops option valuation models and market risk assessment software. FAME develops time-series-based decision-support solutions for financial and energy markets, delivering enterprise information integration, managed data services and Internet-enabled analytical components.
Retx allies with Pentech
Retx Inc. and Pentech Solutions Inc. will promote each other’s products to give their customers a full market solution to automatically reduce energy consumption and benefit from energy price volatility. Retx offers a suite of back-office solutions to energy retailers, utilities and end-use customers; Pentech Solutions offers customers an Internet-enabled solution to manage and control the total cost of ownership of facility-based equipment.
Altra sets e-trading records
Altra Energy Technologies Inc. announced record-breaking figures on eLiquids, its natural gas liquid (NGL) and crude oil trading platform and eGas, its natural gas exchange platform. Altra, together with its subsidiaries, provides innovative electronic trading services, transaction management software and related e-business services to the energy industry. Altra eLiquids set another volume record on its popular exchange with an increase of approximately 11 percent from the previous quarter. In the same period, crude oil trading also increased by nearly 90 percent.