Enermetrix.com Teams With PSEG Energy Technologies for ONLINE Energy Procurement

PSEG Energy Technologies, a full-service energy provider and an unregulated subsidiary of Public Service Enterprise Group Incorporated, and Enermetrix.com jointly announced last week the creation of PSEG Energy Technologies Energy Auction. The auction, which is expected to be operational March 1, 2000, allows customers to post their energy needs, including terms and conditions, online. Pre-qualified suppliers electronically enter bids to supply and deliver the energy.

A gas and electricity Internet exchange service designed for use by PSEG Energy Technologies' industrial and commercial business customers, PSEG Energy Technologies Energy Auction is based upon Enermetrix.com's award winning e-commerce platform and will provide PSEG Energy Technologies' customers with a simple, cost-saving energy purchasing system. The best bid is electronically accepted in a real-time transaction.

PSEG Energy Technologies Energy Auction customers receive the best market price for their retail energy; pricing based on their terms and conditions; a simple, turn-key process that replaces time-consuming and costly paper-based RFPs; access to a real time energy exchange with pre-qualified suppliers; and access to real time, online monitoring of the transaction process.

"As a full-service energy company, our mission is to provide our customers with the most technologically advanced products and services available to them," said PSEG Energy Technologies President and Chief Executive Officer Stan Kosierowski. "Enermetrix.com's state of the art e-commerce system is the ideal platform to help us meet that goal and deliver true competitive advantage to our customers.

"PSEG Energy Technologies is counting on Enermetrix.com to help its customers make smart, efficient and cost-effective energy purchases," said John Gaus, co-founder and CEO of Enermetrix.com. "PSEG Energy Technologies' decision to adopt the Enermetrix.com energy exchange is a sign of growing industry acceptance and a key milestone in our efforts to establish Enermetrix.com as the industry standard for Internet energy commerce."

Edited by Stephen Heiser