Usource Approved for Business in Maine
Hampton, NH – March 23, 2000: Unitil Corporation (AMEX: UTL) (www.unitil.com) today announced that its Usource Internet energy marketplace has received approval as a Competitive Electricity Provider (aggregator/broker) in Maine from the Public Utilities Commission. Usource already serves a number of large gas customers in the state of Maine and has an active sales force in place.
The electricity market in Maine was opened for competition on March 1 under favorable market conditions, with Standard Offer rates for most medium and large business customers in the 5.6 – 6.0 cent per kilowatt-hour range. Usource offers commercial and industrial customers an established and proven Internet based service for fast, efficient and highly competitive energy supply procurement.
"Maine is quickly proving to be a very active competitive market area, and Usource is the ideal service for Maine’s business customers," said Bob Schoenberger, Unitil’s CEO. "The savings which Usource will bring, through its fast, efficient, low-cost energy procurement process and associated data and information services, will help Maine businesses increase their cost efficiency without having to build new expertise in competitive energy procurement."
Usource allows large commercial/industrial customers to post their energy needs on the Internet for evaluation and bid by a large number of pre-qualified suppliers. If the supplier offers a price the buyer wants and meets the buyer’s terms and conditions, the deal is done. Unlike many Internet sites that merely compare prices for standard offers by suppliers, Usource is a live marketplace in which suppliers make firm bids against firm commitments by customers to buy their electricity and gas. Usource runs on the sophisticated transaction-based software and energy commodity Exchange developed and licensed by Enermetrix.com. (http://www.enermetrix.com/), a privately held company headquartered in Maynard, MA.
Unitil is a public utility holding company with subsidiaries providing electric service in New Hampshire and electric and gas service in Massachusetts and energy services throughout the Northeast. The Usource product line is operated by its subsidiary Unitil Resources, Inc., and is available at www.usourceonline.com. Unitil’s other subsidiaries include Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp. and Unitil Service Corp.
For more information, visit Unitil at www.unitil.com or call George Gantz at 603-773-6569.
Contact Corporate Office
Liberty Lane West
Hampton, NH 03842-1720