Printer Friendly

Automated Power Exchange Expands Its Line of Electricity Trading Products to Include On- and Off-Peak Block Power.

CUPERTINO, Calif.--(BUSINESS WIRE)--Nov. 18, 1998--Automated Power Exchange, Inc. ("APX"), a leading developer and operator of markets for electric energy, today announced the latest addition to its line of products -- On-Peak and Off-Peak Blocks.

These new products make it easier and more convenient for traders to buy and sell electricity in 16-hour and 8-hour blocks starting a week ahead and ending the morning prior to delivery. The block energy products will open for trading on Dec. 9 for delivery day Dec. 10 at both the Northern and Southern California delivery points.

"Customers have told us they need products for near term delivery that require less attention and effort than the next day hourly product that has come to dominate trading in California," announced Ed Cazalet, chairman and chief executive officer of APX. "They've also told us they like the real price discovery that APX offers.

"With this product, we continue to address the needs of a diverse group of market players. Traders can deal in round-lots while generators, Energy Service Providers and municipalities can trade odd-lot quantities that more closely match the size of their generating plants or load requirements. With these on- and off-peak blocks, buyers and sellers are assured of contracting for the full 16-hour or 8-hour period."

"As APX opens additional markets outside of California," continued Cazalet, "market players will be able to buy and sell a variety of products, including block energy, hourly energy, ancillary services and transmission rights. The APX Markets(TM) make it easy for buyers and sellers to find each other quickly, anonymously and without the complexities of a blind auction and its attendant activity rules."

The on- and off-peak blocks will initially open one week ahead and close at 9 a.m. on the day prior to delivery, allowing trading to continue for two hours after the unconstrained CalPX Market Clearing Prices are announced at 7 a.m. The combination of on-peak, off-peak and hourly products means greater convenience with the continued ability to shape purchases and sales. The APX California Markets are open 24 hours a day, seven days a week, with primetime trading hours between 5 and 9 a.m. PST.

APX operates the APX Electricity Markets(TM), providing forward markets to buy and sell power up to 168 hours in advance of delivery, operating 24 hours a day, seven days a week. In addition to Northern and Southern California electricity markets, APX provides a Green Power Market(TM) for buyers and sellers of environmentally preferred generation.

APX offers a seamless interface for the purchase and sale of electricity including scheduling, settlement services, and credit management. To ensure complete impartiality, APX and its employees are not allowed to take positions in the market.

For more information about APX, visit the company's web site at http://www.energy-exchange.com.
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 19, 1998
Words:469
Previous Article:Citizens Appoints Mark Nuss to Key Internal Audit Role.
Next Article:Canada Bread Company Announces Acquisition Of Hamilton Baking Company.


Related Articles
Automated Power Exchange Secures $15.5 Million In Equity Funding with Venture and Industry Backing.
CITY, NBC MAKE POWER PACT STUDIO TO PAY LESS FOR OFF-PEAK ELECTRICITY USE.
PierPASS Outreach Effort Targets Industry, Community and Media; Wide-Ranging Outreach Prepares Stakeholders for July 23 Launch of OffPeak Program.
METHANE-RUN DEVICES POWER HOMES LANDFILL GAS IS USED TO TURN MICRO-TURBINES TO PRODUCE ELECTRICITY.
PROP. 80 CON: SOLID SYSTEM NOW IN PLACE.
PierPASS initiates new procedures.
New partnership will ensure that the lights stay on.
Big users in withdraw1 give grid a vital dose of energy.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters