April 3, 2000
Automated Power Exchange Opens
APX Illinois Market And Expands Midwest Electricity Trading Opportunities
Santa Clara, CA -- Automated Power Exchange (TM) Inc. (APX®),
a leading provider of e-commerce services for the electricity industry,
announced today that it has opened the APX Illinois Market, an Internet-based
exchange for wholesale and commercial electricity buyers and sellers
in the region.
Operating in Commonwealth Edison's (ComEd's) northern Illinois
service area, the exchange provides market participants with a full
view of the market with forward price tracking, as well as the convenient
access and timesaving advantages of e-commerce. Independently owned
and operated by APX, the APX Illinois Market brings together a trading
community of investor-owned and municipal utilities, power producers,
power marketers, and large end users.
"This private, commercial power exchange addresses the needs
of the deregulating retail and wholesale markets in Illinois,"
said Edward G. Cazalet, chairman and chief executive officer of
APX. "All buyers and sellers now have a level playing field
where they can trade on the same terms with verifiable prices continuously
available. Ultimately this exchange could meet the needs of the
Illinois Commerce Commission to replace the neutral fact finder process."
Participants in the APX Illinois Market also can access the APX
Ohio Market, which was opened in July 1999 in the northern Ohio
and northwestern Pennsylvania service area of FirstEnergy Corp.
In turn, APX Ohio Market participants now also can access the APX
Energy products in the APX Illinois and Ohio Markets mirror the
liquidated damages, system firm, and system non-firm products presently
traded in the East Central Area Reliability (ECAR) and Mid-America
Interconnected Network (MAIN) hourly and next-day markets. Also
available are renewable energy, or "green," tickets, which
represent the premium buyers are willing to pay for environmentally
friendly power. Green Tickets generated by a ComEd EcoPowerSM
resource and Generic Renewable Tickets became available March
20 in the APX Midwest Green Power Markets when ComEd launched its
marketing of EcoPowerSM, marking the first time renewable
energy has been sold on the wholesale market in the Midwest.
Participants access the markets using standard desktop computers
and the APX Market 2000, a platform developed specifically for electricity trading.
Automated Power Exchange operates Internet-based exchanges and
clearinghouses for the buying and selling of electricity, energy
transmission, and related products, and provides the core market
and scheduling technologies and services needed to support power
system administration. A privately held company, APX has its world
headquarters in Santa Clara, Calif., and its European headquarters
APX is a registered trademark of, and Automated Power Exchange
is a trademark of Automated Power Exchange Inc. EcoPower
is a service mark of the Environmental Resources Trust (ERT).