Automated Power Exchange Announces Prices For APX Green Tickets in First Five Months of Trading.

CUPERTINO, Calif.--(BUSINESS WIRE)--Oct. 13, 1999--

Automated Power Exchange Inc. (APX(TM)), provider of the only full-service, Internet-based electricity trading exchanges, today announced the prices for the first five months of trading of APX(TM) Green Tickets. The company introduced this approach in May in its APX(TM) Green Power Market, a wholesale electricity exchange currently operating in California.

The average monthly Green Ticket premiums have been:

-- May 1999 - $3.72 per megawatt hour (MWH) -- June 1999 - $3.98 per MWH -- July 1999 - $4.34 per MWH -- August 1999 - $4.92 per MWH -- September 1999-- $4.96 per MWH

The prices for APX Green Tickets are determined by the market and represent the wholesale premium that buyers, such as energy service providers, are willing to pay to provide power from environmentally preferred sources to their end-use residential, commercial, and industrial customers.

"Our pioneering market-based approach to green power premiums allows buyers to provide firm green power to their customers and allows generators to earn a premium on every megawatt hour of green power they produce," said Jan Pepper, director of green market development, Automated Power Exchange.

Nearly all of the independent renewable energy producers that can sell into California's open market, including Calpine Corp., Burney Forest Products, and Enron Wind Development Corp., sell green power through the APX Green Power Market. Automated Power Exchange splits green power into its two components: commodity energy and the Green Ticket. APX Green Tickets are differentiated by: technology type; plant vintage (existing or new); and California Energy Commission credit eligibility. Following California Energy Commission guidelines, only energy provided from wind, solar, geothermal, biomass, landfill gas, and small (less than 30 megawatt) hydro power plants may be sold into the APX Green Power Market.

Since introducing APX Green Tickets in May, Automated Power Exchange has facilitated the trade of more than 175,000 megawatt hours of environmentally friendly power. The company also is scheduling more than 700 megawatts per hour of green power to the California Independent System Operator, the organization that operates the state's power grid.

"As a result of this success," said Pepper, "we are opening the APX(TM) Year 2000 Green Ticket Market this month so that generators and buyers can start locking in prices for the green attribute to be delivered to customers next year."

Automated Power Exchange operates Internet-based exchanges and clearinghouses for the buying and selling of electricity, energy transmission, and related products, and provides the market and scheduling technologies and services needed to support power system administration. Automated Power Exchange is the only exchange provider to offer a full-service approach that includes scheduling, credit management, settlement, and true price discovery while maintaining the anonymity of the transacting parties. In addition to the APX(TM) California Markets, the APX(TM) Green Power Market and the APX(TM) Ohio Market in operation, the company is opening exchanges in New York and Illinois in 1999, and will operate green power markets in these states, as well. Automated Power Exchange is a privately held company that has its headquarters in Cupertino, Calif. For more information, visit www.apx.com.