LEXINGTON, Mass., Sept. 3, 2003 — Excelergy Corp. has signed an agreement with Northern Indiana Public Service Company (NIPSCO) to deploy the Excelergy Trader BackOfficeà¢â€ž- software platform to manage NIPSCO’s scheduling, settlement, market connectivity and transaction management with the Midwest Independent System Operator (MISO).
MISO market trials are planned to start in November, preceding the launch of the Midwest Market scheduled for Spring 2004.
Excelergy Trader BackOffice is a rapidly deployed, highly scalable software platform that automates the scheduling, settlement and collaborative communications for energy generators, wholesalers and marketers participating in real-time physical energy markets around the world.
For NIPSCO, Excelergy’s Midwest Market rapid entry program will deliver MISO-specific connectivity, collaborative communications and high performance transaction management, while automating critical processes such as bid management, deal capture, scheduling, shadow settlement, network billing and final settlement.
“The Excelergy Trader BackOffice software platform was designed from the beginning to optimize and accelerate the energy delivery-to-cash cycle in real-time physical markets such as MISO,” said Bill Mahoney, president and CEO of Excelergy. “Not only does this platform enable companies to handle the increasing volume and complexity of transactions in the Midwest Market, it delivers quicker, more efficient revenue and cash cycles in addition to the back office efficiency and accuracy that market participants need to do business profitably in these kinds of evolving wholesale markets.”
Currently, Midwest Market participants can purchase power from one another through an advance reservation with the Midwest ISO (www.midwestiso.org). 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 that are fully capable of handling multiple market rules and requirements, allowing them to do business seamlessly across multiple ISOs/RTOs.
About Excelergy® Corporation
Excelergy is a provider of software platforms that increase revenues, improve cash flows and reduce costs in the energy/utility industry and other restructuring value chains. Excelergy’s highly 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-centric, native XML technology architecture. Winner of corporate and product excellence awards from organizations including Power & Gas Marketing, Hart’s Energy Markets and PennWell, 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.