Streamline

In an effort to streamline its online trading process andstrengthen energy trading efficiency, HoustonStreet Exchange hasjoined the independent and not-for-profit Organizaton for theAdvancement of Structured Information Standards (OASIS). Theexchange says its decision to join marks the industry’s firstmaneuver to bring open standards to wholesale energy trading.

Energy.com Corp. of Columbus, OH, said it plans to streamlinethe energy buying process for commercial and industrial customersand at the same time make life easier for energy marketers. Thecompany is preparing to launch eBID, an on-line Request forProposal (RFP) system through its web site at www.energy.com. Theweb-based interactive RFP process will allow commercial andindustrial businesses to shop for the best energy source on-line.Energy.com’s eBID is scheduled to launch later this month.

The New York State Public Service Commission adopted a set ofbusiness practices yesterday that are designed to streamline themanner in which local utilities interact with gas and electricitymarketers, energy services companies (ESCOs) and customers whopurchase energy in New York’s competitive market. The measurescover a wide range of issues, including minimum standards ofESCO/marketer creditworthiness, customer information exchangedbetween the utility and the supplier, billing procedures, switchingof customers, customer slamming protections, and dispute resolutionprocedures.

QuickTrade released the first commercial Internet-basedelectronic power trading system this week. Streamline, its biggestcompetitor, is expected to follow suit over the next few months.The QuickTrade system is equipped to handle forward trades at 13hub locations across the U.S. and one in Canada, and so far hasattracted the interest of about 35 traders, 20 of which have signedup to begin utilizing the system.

NUI Corp., parent company of six eastern gas local distributioncompanies, announced a restructuring plan designed to streamlinethe company in preparation for a more competitive marketplace. Theplan includes greater emphasis on nonregulated business operationsand a voluntary early retirement program offered to 88 of its 1,161employees, including four members of NUI’s executive managementteam, among them Lyle Motley, president of the company’s southerndivision. Further downsizing is expected once the companydetermines where it can achieve greater efficiencies in its effortto generate higher revenues from its nonregulated businesses.