Hampton, NH – April 19, 2000: Unitil Corporation (AMEX: UTL) (www.unitil.com) today announced that its Usource Internet energy marketplace has received approval as an Electric Generation Supplier (aggregator/broker) in Pennsylvania from the Public Utilities Commission.
The electricity market in Pennsylvania was one of the first to open for competition in June of 1998. Many of the commercial and industrial customers within the state are choosing alternative electric suppliers and there is a high level of understanding of the choice process. Usource offers these customers an established and proven Internet based service for fast, efficient and highly competitive energy supply procurement.
"This is natural fit between the vibrant, competitive market of Pennsylvania and the competitive company - Usource," 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 Pennsylvania businesses increase their cost efficiency without having to build new expertise in competitive energy procurement."
Launched in mid-1999, Usource is an Internet based energy marketplace that allows large commercial/industrial customers to post their energy needs 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 Raymond J. Morrissey at 603-773-6503
Contact
Raymond J. Morrissey
morrissey@unitil.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
