American PowerNet 1st to take retail account to the wholesale electric market behind the New England ISO.
Wyomissing, PA - November 17, 2003 - American PowerNet, an independent energy management firm, is now scheduling power on a daily basis behind the New England Independent System Operator (ISO).
On behalf of BOC Energy Services, American PowerNet is now scheduling and balancing daily power requirements at BOC's Kittery Maine facility. This becomes the first retail account behind the New England ISO to directly access the wholesale markets, purchasing its power requirements at the wholesale level and subsequently delivering the power to their retail meter. American PowerNet provides all of the back-office expertise to enable BOC to access the wholesale markets directly and subsequently save a significant amount of money over retail rates.
This is the second plant that American PowerNet has taken directly to the wholesale market on behalf of BOC. The first plant is behind the Mid-Atlantic PJM ISO. This innovative solution has proven to be such a success that the project was awarded a BOC internal international achievement award and has led to the expansion of the model into New England.
"American PowerNet's energy expertise and innovative services have allowed BOC to aggressively pursue cost saving opportunities in the wholesale electric markets," stated Larry Stalica, Vice President BOC Energy Services. "American PowerNet has helped position BOC to continually take advantage of market opportunities as they present themselves and position BOC at the forefront of an evolving market."
"Given BOC's level of in-house expertise, we are pleased that BOC demonstrated the confidence not only in our vision of how the market is going to evolve but also in American PowerNet's technical capability to move power in virtually all of the deregulated wholesale markets nationwide," remarked Scott Helm, President American PowerNet.
"This strategy is particularly advantageous for companies with multiple sites in multiple states," explained Helm. "It allows companies to finally leverage their purchasing power for electric much like hey have for all of their other supplies. Going directly to the wholesale markets is the next logical step for large electric users exposed to market prices in deregulated states." American PowerNet currently provides wholesale procurement services behind PJM and the New England ISOs, and soon behind the NY ISO, ERCOT, and MISO territories.
About American PowerNet
American PowerNet provides clients with supply-side management services designed to provide direct cost savings on energy purchased, and demand-side management strategies that reduce or shift energy use for overall lower energy bills. As a leader in the electricity procurement markets, American PowerNet currently procures electric for thousands of accounts nationwide. For more information, call (610) 372-8500 or visit online, www.americanpowernet.com.