Dallas, TX -September 1, 2005 — Energy Knowledge Group (EKG) aims to change the way businesses in deregulated states procure electricity and natural gas. EKG has become a licensed, full-seated broker on the World Energy Exchange, an Internet-based reverse energy auction platform. The World Energy Exchange leads the North American market in online energy procurement, with over 65 percent 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. Customer savings that accrue in energy savings from use of the Exchange’s reverse auction range from 5 percent to 30 percent, according to the company. 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.
Energy Knowledge Group: www.energykg.com
World Energy: www.worldenergy.com
