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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 Illinois Market.

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 in London.

 

www.apx.com
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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).

 

                                      
 

 

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