EnergyGateway.com Delivers Savings, Says P&G
After five months of use and $100 million in gas purchases,
Procter & Gamble (P&G) concluded EnergyGateway.com's
natural gas marketplace works like charm.
"EnergyGateway.com brings together a large number of buyers and
sellers providing a competitive market environment that has
delivered significant savings for Procter & Gamble," said
Michele Kidd, North American energy purchasing group manager.
The exchange, which went live in September 1999 and fired up its
gas marketplace in November 1999, claims to be the biggest
transaction site for large commercial and industrial energy
customers, as well as utilities and producers. The system allows a
business to post its needs, then choose from among the bids it
receives from suppliers. Fees are charged only on successful
transactions, and suppliers also can sell to other suppliers.
"By streamlining the procurement process online, Procter &
Gamble is reaping benefits in the form of true savings and the
freedom to focus on more strategic value-added duties," said Dan
Pugh, director of major accounts at EnergyGateway.com.
F. Daniel Ryan, EnergyGateway's president and co-founder said
the electric marketplace has just recently started signing people
on, but the natural gas marketplace has "51 of the largest natural
gas suppliers in the country, and a number of them are already
electricity providers. So we are transitioning the providers over
to the electricity marketplace and adding our consumers to the
electricity marketplace." Ryan pointed out that electricity
deregulation's slow growth is limiting the areas his electricity
platform can serve.
Procter & Gamble's praise comes on the heels of
EnergyGateway's October deal with Cargill Inc., an international
marketer, processor and distributor of agricultural, food,
financial and industrial products and services. Initially, Cargill
intends to spend $55 million buying gas on EnergyGateway.com, but
in the future it could extend its usage to cover all of the
company's $500 million natural gas and electricity needs.
"We selected EnergyGateway because it is the first company to
blend proven energy transaction expertise with the ease,
flexibility, convenience and control of e-commerce," said J.F.
Muse, a spokesman for Cargill. Alex Steis
©Copyright 2000 Intelligence Press, Inc. All rights
reserved. The preceding news report may not be republished or
redistributed in whole or in part without prior written consent of
Intelligence Press, Inc.