Usource Signs Major Industrial Group.
HAMPTON, N.H.--(BUSINESS WIRE)--April 6, 2000
Unitil Corporation (AMEX:UTL) (www.unitil.com) today announced that MI Energy L.L.C., a buying consortium comprised of members of the Multiple Intervenors of New York, has signed with the Usource Internet energy marketplace for procurement of electric supply for its members.
"Multiple Intervenors is one of the most active and well-respected associations of large energy consumers in the country and we are pleased that MI Energy has chosen Usource for their electricity supply procurement," said Bob Schoenberger, Unitil CEO. "MI Energy's selection of Usource is a great vote of confidence in the services and value Usource provides to large energy consumers."
Multiple Intervenors is an unincorporated association of large energy users with facilities located throughout New York State, whose collective energy demands are the equivalent of a good sized utility. Formed in 1972, Multiple Intervenors represents the interests of large consumers of electricity and/or natural gas on energy related issues before the New York State Public Service Commission, the Federal Energy Regulatory Commission and in Court. Multiple Intervenors is committed to promoting competitively-priced and reliable energy supplies as a means of protecting jobs in New York and to securing the lowest priced and most reliable sources of energy for its members.
Usource is an Internet based energy marketplace that allows large commercial/industrial customers to post their energy needs for evaluation and bid by a large number of pre-qualified suppliers. If the supplier offers a price the buyer wants and meets the buyer's terms and conditions, the deal is done. Unlike many Internet sites that merely compare prices for standard offers by suppliers, Usource is a live marketplace in which suppliers make firm bids against firm commitments by customers to buy their electricity and gas. Usource runs on the sophisticated transaction-based software and energy commodity Exchange developed and licensed by Enermetrix.com. (http://www.enermetrix.com/), a privately held company headquartered in Maynard, MA.
Unitil is a public utility holding company with subsidiaries providing electric service in New Hampshire and electric and gas service in Massachusetts and energy services throughout the Northeast. The Usource product line is operated by its subsidiary Unitil Resources, Inc., and is available at www.usourceonline.com. Unitil's other subsidiaries include Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp. and Unitil Service Corp.
For more information, visit Unitil at www.unitil.com or call Todd Black, Vice President, Sales and Marketing at 603-773-6530.