American Electric Power signs agreement to deploy Excelergy Trader BackOffice for business units


LEXINGTON, Mass., Nov. 12, 2002 -- American Electric Power signed an agreement in September to expand its deployment of the Excelergy Trader BackOffice™ software platform to support both its regulated and unregulated businesses.

The agreement marks a significant expansion of Excelergy's relationship with AEP, North America's largest energy generator and marketer.

"AEP's existing trading operation has worked very well with Excelergy's product during its initial implementation for power scheduling and market operations in ERCOT. Choosing the Excelergy product within our new regulated wholesale business allows AEP to leverage the investment and experience that went into building this software platform," said Ronald Erd, AEP's senior vice president of regulated generation, marketing and supply. "The Excelergy track record is solid and we believe they will deliver the required functionality needed as AEP joins the PJM market."

AEP has been using Excelergy Trader BackOffice to manage the trading, scheduling, settlement and market communications processes for its unregulated wholesale generation and trading business since early 2001. The latest agreement extends AEP's use of Trader BackOffice to manage its regulated generation and trading business as well. AEP has deployed Trader BackOffice for the ERCOT (Texas) market and will soon be using it as well in the PJM (Pennsylvania-New Jersey-Maryland) market.

"Leading global energy companies like AEP are demonstrating that you can improve cash flows and profitability by making your revenue cycles and back office operations run more quickly, efficiently and productively," said Bill Mahoney, president and chief executive officer of Excelergy Corporation. "What's more, these substantial investments in Excelergy platforms are proving to pay for themselves in a matter of months, not years. This is an exceptionally quick return compared to other systems of their kind."

Excelergy's powerful scheduling, settlement and market connectivity capabilities also have AEP well prepared for the transaction complexity and volume associated with FERC's Standard Market Design (SMD). SMD is aimed at implementing open, standard, well-functioning wholesale power markets. In North America, Trader BackOffice manages scheduling, settlement, shadow settlement, and ISO/RTO connectivity for ERCOT, PJM, ISO NE (New England), NY ISO (New York), CA ISO (California), Ontario and Alberta, among others.

About American Electric Power

American Electric Power, an energy company with a balanced portfolio of energy assets, owns and operates more than 42,000 megawatts of generating capacity in the United States and select international markets and is the largest electricity generator in the United States.

AEP is a wholesale marketer of energy commodities, utilizing its energy expertise and risk management skills to make optimal use of its generation, natural gas pipeline systems, natural gas storage, coal mines and inland barge fleet.

AEP is also one of the largest electric utilities in the US, with almost 5 million customers linked to AEP's 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio. More information is available at www.aep.com.

About Excelergy® Corporation
Excelergy is a provider of high performance software platforms that automate six mission-critical business processes--forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care--in the energy/utility industry and other restructuring markets.

Excelergy's highly flexible, scalable software platforms are based on an open, object-based, Web-based, native XML technology architecture. Winner of both the Red Herring 100 and UPSIDE Hot 100 awards for the world's top private companies, Excelergy has its North American headquarters in Lexington, Massachusetts, its European headquarters in London, England and its Asia-Pacific operations in Melbourne, Australia. More information is available at www.excelergy.com.

Sponsored by FLSmidth

Related Articles

Indiana Michigan Power I&M AEP American Electric Power solar power projects substations

I&M plans five solar power projects

Indiana Michigan Power (I&M), a subsidiary of American Electric Power (NYSE: AEP), said it is planning a $38 million project to build five solar power plants totaling 16 MW of capacity.

AEP picks Oniqua to optimize power gen inventory

American Electric Power (AEP, NYSE: AEP) picked Oniqua Intelligent MRO to optimize its inventory across its generation, transmission and distribution (T&D) assets.

Follow Power Engineering on Twitter
Latest News
France energy bill boosts renewables, cuts nuclear

French bill seeks to boost renewable energy, cut nuclear use

France's lower house of parliament has approved a bill aimed at boosting renewable energy and...
Duke Energy W.C. Beckjord coal-fired power plant

Shut down coal-fired power plant to house energy storage system

Duke Energy (NYSE: DUK) is teaming with LG Chem and Greensmith to convert a shut down coal-fi...
Areva's European Pressurized Reactor (EPR)

EDF offers Areva $2bn offer for nuclear reactor unit

EDF has offered Areva a €2 billion ($2.2 billion) approach for Areva’s nuclear reactor busine...
Beaver Valley nuclear power plant in Pennsylvania

Beaver Valley nuclear unit returns to service

Unit 1 at the Beaver Valley nuclear power plant in Pennsylvania returned to service following...
Beacon Power Chugach Electric Association flywheel and battery storage systems

Beacon Power teams on energy storage systems in Alaska

Beacon Power, a manufacturer of flywheel energy storage systems, signed an agreement to suppl...
Entergy's Pilgrim nuclear power plant in Massachusetts

Pilgrim nuclear plant back online after $70M upgrade

The only nuclear power plant in Massachusetts is back on line after a $70 million, monthlong,...
Indian Point Unit 3 nuclear power plant in New York

Indian Point 3 returns to service following transformer fire

Indian Point Unit 3 in New York returned to service more than two weeks after a transformer f...
Susquehanna Unit 2 back online after refueling outage

Susquehanna nuclear Unit 2 completes refueling outage

Unit 2 at PPL’s (NYSE: PPL) Susquehanna nuclear power plant in Pennsylvania has returned to o...

Power Engineering Current Issue

01/01/2015
Volume 119, Issue 1
1501pe-cover-lg
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Power Industry Wire News

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free NDT Job Training to Vets, Disadvantaged Young Adults

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free ND...

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tech Talent

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tec...

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possible Delisting

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possi...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>