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CONTACT INFORMATION
Energy Knowledge Group
www.worldenergy.com
Donnie Herrin
972-733-6838
FOR IMMEDIATE RELEASE
Energy Knowledge Group
Partners with World Energy to Offer Award-Winning On-line Energy Procurement
Solutions
DALLAS, TX, September 1, 2005 – Energy Knowledge
Group (EKG) is changing the way businesses in deregulated states
procure electricity and natural gas. EKG announces that it has become
a licensed, full-seated broker on the World Energy Exchange, an
award–winning, Internet-based reverse energy auction platform.
The World Energy Exchange leads the North American market in on-line
procurement of energy, with over 65% of market share. More than
11 billion kWh of electricity and 34 billion cubic feet of natural
gas have been procured using the Exchange for some of North America’s
largest commercial, industrial and government customers, as well
as for distribution companies purchasing standard offer load.
EKG offers the World Energy Exchange and its underlying market
intelligence and processes primarily to Texas, Oklahoma, Georgia,
Florida and Kansas commercial and industrial businesses and political
subdivisions. Using the Exchange, qualified electricity and natural
gas suppliers compete against one another to secure the buyer’s
business using a structured and transparent reverse auction platform.
Throughout the auction, natural marketplace competition pushes prices
progressively lower, with winning bidders agreeing to provide the
power needed at the price determined by the auction's results. Typical
customer savings that accrue in energy savings from use of the Exchange’s
reverse auction range from 5-30 percent. One national supplier recently
stated that the World Energy Exchange is “brutally efficient
at squeezing margins to the bare minimum.”
Using the Exchange platform, EKG can match commercial and industrial
as well as government buyers with suppliers and automate the complex
steps required to purchase gas and electricity in today’s
market.
The system uses up-to-the-minute market pricing information and
forecast data, along with the buyer’s energy usage data, to
create bid requests, solicit competitive bids from qualified suppliers,
evaluate the bids and select the optimal sources with whom to contract
based on bid results. Extensive automation including date and time
stamping of bids, and automated stop times ensure the integrity
of auction events and creates audit trails and a self-documenting
capability essential to Sarbanes Oxley compliance. The system’s
Web-based Portfolio Management software allows customers to view
energy contracts, site and account information, reports and monitor
consumption and contract performance.
About Energy Knowledge Group (EKG)
Energy Knowledge Group (EKG) is a full services energy company with
expertise in all phases of the retail energy value chain...energy
procurement, data acquisition and energy information services, demand-side
measures and managed services. EKG is based in Dallas, Texas and
is registered with the Public Utility Commission of Texas as a certified
Aggregator (#80074).
About World Energy (www.worldenergy.com)
About World Energy
World Energy, based in Worcester, Massachusetts, is the market leader
in energy information and on-line procurement, delivering the intelligence
and tools buyers need to drive confidence up and costs down. With
over 65% market share in on-line procurement, World Energy has procured
11 billion kWh of electricity and 34 billion cubic feet of natural
gas for some of the largest and most sophisticated commercial, industrial
and government customers. Using sophisticated technologies and deep
knowledge of deregulated energy markets, World Energy is able to
deliver the lowest pricing available in the market. More information
about World Energy Solutions, Inc. can be found at www.worldenergy.com.
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