Automated Power Exchange Rolls Out New Banking Functionality for New England Power Pool Generation Information System; System Enhancement Adds Value for Renewable Energy Generators.

Energy Editors/Business Editors

SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 11, 2003

APX, administrator of the NEPOOL Generation Information System (GIS), today rolled out a software upgrade to the system that allows banking of renewable energy certificates. The system, which operates under a quarterly trading period schedule, now allows renewable energy certificates to have a usable life beyond the certificate's quarter of creation. Previously, a certificate had a lifespan of only one quarter. Now, renewable energy certificates can be banked within a calendar year. This new feature enhances the ability of renewable generators to find purchasers for their certificates and gives electric suppliers increased flexibility in the procurement of certificates to meet regulatory requirements or to create differentiated electricity products.

Dennis Duffy, Chairperson of the NEPOOL GIS Advisory Committee stated, "The new banking functionality in the GIS greatly extends the lifespan of renewable energy certificates and will provide significant value to account holders both buying and selling certificates. It will not only serve to enhance the ability of renewable energy generators to capture the environmental value of their power, but it will also facilitate the ability of electric suppliers to meet regulatory requirements in the most efficient manner possible."

Developed and administered by APX, the NEPOOL GIS encompasses Connecticut, Massachusetts, New Hampshire, Rhode Island, Vermont and most of Maine. The system, which began operating in July 2002 helps verify retail electric supply compliance with various green power and environmental regulations. Within the NEPOOL GIS, more than 180 million certificates have been created to date with over 24 million certificates for generation that met one or more state renewable portfolio standard (RPS) requirements.

The Web-based system, available, at www.nepoolgis.com, records the production details of all power generated in the NEPOOL control area, including wind, biomass, solar, coal, hydroelectric, natural gas, nuclear and other fuel sources. For each megawatthour of power, the system creates an electronic certificate, which may be sold or transferred off line. The certificate describes when, where, and by whom the power was produced; the type of fuel source used; renewable portfolio standard eligibility; the amount and type of certain pollutant emissions released, among other characteristics.

APX, which has a five-year contract with NEPOOL, has also developed the Texas Renewable Energy Credit System for ERCOT.

For further information on the NEPOOL GIS, please contact Dennis Duffy, Chairperson of the NEPOOL GIS Advisory Committee, at 617-904-3100 ext. 112.

About APX Inc.:

As an independent transaction processing service provider for wholesale electric power markets, APX processes more than 700 million megawatt hours per year for client companies in North America. Services include scheduling and settlement and environmental registry services and systems. A privately held company, APX has offices in California and Texas. More information is available at www.apx.com.