Usource Energy Transactions Grow in Tough Markets – New Buy for Nations Energy
Hampton, NH, October 24, 2000 - Usource L.L.C., an affiliate of Unitil Corporation (AMEX:UTL), today announced a major natural gas purchase for Nations Energy Holdings, L.L.C. (formerly Acetex Energy), part of a recent increase in natural gas supply transactions in the face of tough market conditions and higher energy prices. Nations Energy purchased natural gas through Usource for its Energy Center located in Massachusetts. This energy complex is a full service facility, supplying power, steam, and related services to industrial and commercial customers. The transaction added to the nearly 4BCF of natural gas transactions placed through the Usourceonline Internet auction platform within the past month. Other transactions included multi-state buys for various manufacturing firms in nine states, as well as buys for aggregated loads of commercial, industrial and institutional customers.
"Our business continues to grow because our approach is easy to understand and to use and delivers consistent value and efficiency to our customers," said Bob Schoenberger, Unitil’s Chairman and Chief Executive Officer. "Customers need tools that simplify the complexities of the energy markets while providing the speed, flexibility and depth of information necessary to support effective decision-making – that’s what Usource does."
"We appreciate the speed of response and the real business value which Usource has provided," said Bill Johnson, president of Nations Energy. "As an energy company, Nations Energy is acutely aware of changes in market conditions. Usource provides the tool we need for efficiently managing our energy buys and providing cost-effective solutions to our customers."
Based in Chicago, Illinois, with offices in Houston, Texas, and Phoenix, Arizona, Nations Energy (www.nationsenergy.ws) actively develops and acquires energy assets throughout the U.S. and Canada. Nations Energy is owned by an energy partnership managed by Haddington Ventures, L.L.C. of Houston, Texas. The partnership owns a portfolio of mid-stream energy related companies. The partnership includes Chase Capital Partners, Prudential Capital Group, Travelers Companies and Vectren Enterprises.
Usource (www.usourceonline.com), launched in mid-1999, provides efficient, customer-friendly energy solutions to large and mid-sized businesses and institutions. Services include access to the Enermetrix.com Energy Exchange, the nation’s leading retail energy commodity auction platform, key market intelligence and information and a growing portfolio of energy-related products and services. Usource is active throughout the Northeast and is expanding rapidly as new competitive markets develop across the country. Usource customers include a range of businesses and institutions including Fortune 500 industrial firms, municipalities, large government institutions and aggregated groups of commercial customers. Usource is focused on the needs of its customers, constantly enhancing its Internet technology and refining its product and service offerings in response to evolving market conditions.
Unitil Corporation (www.unitil.com) is a public utility holding company with subsidiaries providing electric service in New Hampshire, electric and gas service in Massachusetts and energy services throughout the Northeast. It’s subsidiaries include Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company Unitil Power Corp., Unitil Realty Corp., Unitil Service Corp. and its unregulated business unit Unitil Resources, Inc. Usource L.L.C. is a subsidiary of Unitil Resources, Inc.
For more information, visit Usource at www.usourceonline.com or call Tony Aguiar at 603-773-6472.
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