Hampton, NH – August 11, 2000: Usource L.L.C. (www.usourceonline.com), a subsidiary of Unitil Corporation (AMEX:UTL), today announced that Moog Inc. of East Aurora, NY, worldwide manufacturer of precision control components and systems, completed a nine-month electric supply transaction through Usourceonline.com, providing commodity cost savings of approximately 15%.
"We are very pleased with the cost savings Usource has delivered in the face of tough market conditions, and with the service and convenience they provide," said Al Schussler, Moog’s Energy Manager. "We pride ourselves on precision and performance in our operations – Usource provides the tools for achieving precision and performance in the acquisition of competitive energy supply."
The electric supply chosen through the Usource Internet auction process begins in mid-September and reflects a significant improvement in prices available in the NY electric supply market. Summer prices have been higher and more volatile than in prior years, and concerns have been expressed in the national media about possible energy supply shortages in certain regions of the country.
"We are pleased to see competitive electricity prices improving to the point where cost savings are again available," said Usource spokesperson Todd Black. "As the fall approaches we are seeing a significant uptick in customers using Usource to meet their commodity needs."
Moog Inc. is a leading worldwide designer and manufacturer of a broad range of high performance precision motion and fluid control products and systems for aerospace and industrial markets. Moog’s high-performance actuation products control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles and automated industrial machinery.
Usource provides Internet-based energy procurement services to energy buying groups, and commercial, industrial and institutional customers throughout New York, New England and Pennsylvania. Customers include MI Energy, L.L.C., a consortium of NY industrial firms, Heidelberg, the New York City Housing Authority, the municipality of Ilion, NY and large industrial firms in competitive markets throughout the Northeast. Unlike most energy e-commerce sites, Usource is a live auction 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. (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, electric and gas service in Massachusetts and energy services throughout the Northeast. Its 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. The Usource product line of Internet-based energy brokering and related products and services is available at www.usourceonline.com.
For more information, visit Unitil at www.unitil.com or call Todd Black at 603-773-6530.
Contact
Todd Black
black@usourceonline.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
