Automated Power Exchange Introduces Expanded APX Midwest-Eastern Market, Providing Online Access to 12-state Area.Business Editors/Energy, Utility & Internet Writers SANTA CLARA, Calif.--(BUSINESS WIRE)--June 30, 2000 Automated Power Exchange(TM) Inc. (APX APX Approximately APX ascorbate peroxidase APX Amsterdam Power Exchange APX Automated Power Exchange APX Alt Preset Extreme (MP3 encoding preset) APX Average Page Exposure APX Ateliers de Puteaux APX Airborne Radar Transponder (R)), a leading provider of e-commerce services for the electric power industry, announced today that it has expanded its electric power exchange market in Illinois and Ohio to a 12-state APX Midwest-Eastern Market. The expanded Internet-based exchange provides multiple trading hubs for online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. in the largest contiguous wholesale electricity market in the U.S. Traders now can access more than 50 utilities with interconnected transmission in Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and Wisconsin. Two new trading hubs -- the APX AEP AEP - Application Environment Profile Hub and the APX TVA TVA: see Tennessee Valley Authority. Hub -- are incorporated with two existing ones -- the APX ComEd Hub (formerly the APX Illinois Market) and the APX FE Hub (formerly the APX Ohio Market). Independently owned and operated by APX, the APX Midwest-Eastern Market brings together a trading community of investor-owned and municipal utilities, power producers, power marketers, and retailers. Initial participants are: AMP Ohio, Central Illinois Lighting Co., Commonwealth Edison Co., Duquesne, Edison Mission, FirstEnergy Corp., FirstEnergy Trading Services, Pennsylvania Power & Light, Unicom Energy, Wisconsin Electric, and Wisconsin Public Service. "By expanding our power exchange operations in this area, we are creating price transparency Price Transparency The accessibility of information on the order flow for a particular stock, allowing knowledge of the quantities of stock being offered and the bids at the various price levels. Also referred to as "market depth. and liquidity at multiple trading hubs across a large geographic zone," said Edward G. Cazalet, chairman of APX. "Traders can take advantage of opportunities that are hundreds of miles away. In addition, the continuous availability of verifiable prices for all transactions on this exchange supports improved price stability." Energy products in the APX Midwest-Eastern Market mirror the liquidated damages Monetary compensation for a loss, detriment, or injury to a person or a person's rights or property, awarded by a court judgment or by a contract stipulation regarding breach of contract. , system firm, and system non-firm products presently traded in this area for the hourly and next-day markets. Also available are renewable energy, or "green," tickets, which represent the premium that buyers are willing to pay for environmentally friendly power. Participants access the markets using standard desktop computers and the APX Market 2000, a platform developed specifically for electricity trading. The APX AEP Hub operates around the American Electric Power American Electric Power (NYSE: AEP) is a major investor-owner electric utility in various parts of the United States. It is headquartered in Columbus, Ohio. It serves parts of 11 states, and is currently the largest electricity generating utility in the United States. Company control area, and the APX TVA Hub operates around the Tennessee Valley Authority Tennessee Valley Authority (TVA), independent U.S. government corporate agency, created in 1933 by act of Congress; it is responsible for the integrated development of the Tennessee River basin. control area. The APX ComEd Hub is based in Commonwealth Edison's control area and has been operational since March 2000. The APX FE Hub is based in FirstEnergy Corp.'s control area and has been operational since July 1999. Automated Power Exchange operates Internet-based exchanges and clearinghouses for the buying and selling of electric power, renewable power, and related products, and provides the core market and scheduling technologies and services needed to support power system administration. A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , APX has its world headquarters in Santa Clara, Calif., and its European headquarters in London. For more information, visit www.apx.com. Note to Editors: APX is a registered trademark of, and Automated Power Exchange is a trademark of Automated Power Exchange Inc. APX AEP Hub and APX TVA Hub are APX geographic market descriptors and do not imply the endorsement of the American Electric Power Company or the Tennessee Valley Authority. |
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