Unitil Buys Into Internet Transactions
Unitil Corp. of Hampton, NH, acquired a minority interest in
North American Power Brokers Inc. for $3 million in cash, and has
licensed and will deploy North American Power's Internet-based
technology for electricity and gas sales to retail consumers.
"This is the way natural gas and electricity will be sold, and
it's here today," said Unitil CEO Robert G. Schoenberger. "Hundreds
of business customers are using North American Power Broker's
system to save from 10-19% on their energy purchases. Our strategic
partnership with North American Power allows us to work on behalf
of retail energy consumers without the financial risk of commodity
Unitil will offer the retail energy electronic commerce system
developed and owned by North American Power to medium and large
commercial and industrial customers, co-branded under the name
"Usource," powered by North American Power's World Wide Retail
Energy Exchange. North American Power, of Maynard, MA, is a
privately held company that has been providing Internet technology
solutions to the energy industry since 1995. North American Power's
system has facilitated nearly a thousand transactions for the
purchase of gas by large retail consumers. About 50 energy
suppliers, including several of the country's largest, regularly
participate in the auction process.
Unitil is a public utility holding company with electric
distribution operations in several cities and towns in the Seacoast
and Capital City areas of New Hampshire, and a combination electric
and gas utility operation in north central Massachusetts.
Joe Fisher, Houston
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