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Unitil Buys Into Internet Transactions

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 ownership."

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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