News Release
March 29, 2000

15 Energy Companies Form Consortium for E-Procurement Exchange

(March 29, 2000) A consortium of 15 leading U.S. electric and gas companies plans to launch an Internet marketplace for the purchase of goods and services between the energy industry and its suppliers this year.

The 15 companies include American Electric Power (NYSE: AEP), Cinergy (NYSE: CIN), Consolidated Edison, Inc. (NYSE: ED), Duke Energy (NYSE: DUK), Edison International (NYSE: EIX), Entergy (NYSE: ETR), FirstEnergy Corp. (NYSE: FE), FPL Group (NYSE: FPL), PG&E Corp. (NYSE: PCG), Public Service Enterprise Group (NYSE: PEG), Reliant Energy (NYSE: REI), Sempra Energy (NYSE: SRE), Southern Company (NYSE: SO), TXU (NYSE: TXU) and Unicom (NYSE: UCM).

The business-to-business exchange will operate as a single global portal for purchasing anything from transformers and wire to turbines and equipment repairs. The for-profit exchange will be open for use by any company in the energy/utility industry. By building an online marketplace, the consortium expects to generate significant benefits for purchasers and suppliers alike by streamlining purchasing processes, shortening purchase cycles and increasing accessibility between buyers and sellers. According to Forrester Research, utilities are the third largest industry in terms of total online business trade.

The consortium expects to establish an independent company by June to operate the exchange, initially owned by the founding companies.

Initial services will include online proposals, price quotes and auctions. The exchange will be designed to encourage open participation. The strong commitment of is expected to benefit small and historically underutilized suppliers through increased market reach and efficiency.

The management-consulting firm of PricewaterhouseCoopers has been selected to assist in the development of the exchange and the selection of the technology provider.

 

For further information, contact:

AEP—Pat Hemlepp, 614-223-1620

ConEd—Mary McCartney, 212-460-4111

Edison Int’l—Diane Wittenberg, 626-302-3312

FPL—Media Relations, 305-552-3888

PG&E Corp—Greg Pruett, 800-743-6397

Reliant Energy—Sandy Fruhman, 713-207-3123

Southern Company—Laura Gillig, 404-506-570

Unicorn—Jennifer Gordon, 312-394-2836

Cinergy—Steve Brash, 513-287-2226

Entergy—Betsy Shearron, 504-576-2042

FirstEnergy—Kristen Baird, 330-761-4261

PSEG—Paul Rosengren, 973-430-5911

Sempra Energy—Ed Van Herik, 877-866-2066

TXU—Sandy Smith, 214-812-5977

Contact: Danny Gibbs (Duke Energy)
Phone: 704-373-6680
24 Hour Phone: 704-382-8333
Email: dpgibbs@duke-energy.com