EDITORS: Please do not use
"Pacific Gas and Electric" or "PG&E" when
referring to PG&E Corporation or its National Energy Group.
The PG&E National Energy Group is not the same company as Pacific
Gas and Electric Company, the utility, and is not regulated by the
California Public Utilities Commission. Customers of Pacific Gas
and Electric Company do not have to buy products or services from
the National Energy Group in order to continue to receive quality
regulated services from Pacific Gas and Electric Company.
15 ENERGY COMPANIES
FORM CONSORTIUM FOR E-PROCUREMENT EXCHANGE
A consortium of 15 leading
U.S. electric and gas companies plans to launch an Internet marketplace
for the purchase of goods and services between the energy industry
and its suppliers this year.
The 15 companies include
American Electric Power (NYSE: AEP), Cinergy (NYSE: CIN), Consolidated
Edison, Inc. (NYSE: ED), Duke Energy (NYSE: DUK), Edison International
(NYSE: EIX), Entergy (NYSE: ETR), FirstEnergy Corp. (NYSE: FE),
FPL Group (NYSE: FPL), PG&E Corp. (NYSE: PCG), Public Service Enterprise
Group (NYSE: PEG), Reliant Energy (NYSE: REI), Sempra Energy (NYSE:
SRE), Southern Company (NYSE: SO), TXU (NYSE: TXU) and Unicom (NYSE:
exchange will operate as a single global portal for purchasing anything
from transformers and wire to turbines and equipment repairs. The
for-profit exchange will be open for use by any company in the energy/utility
By building an online marketplace,
the consortium expects to generate significant benefits for purchasers
and suppliers alike by streamlining purchasing processes, shortening
purchase cycles and increasing accessibility between buyers and
sellers. According to Forrester Research, utilities are the third
largest industry in terms of total online business trade.
The consortium expects to
establish an independent company by June to operate the exchange,
initially owned by the founding companies.
Initial services will include
online proposals, price quotes and auctions. The exchange will be
designed to encourage open participation. The strong commitment
of the companies to supplier diversity will continue. Open, low-cost
access to e-commerce is expected to benefit small and historically
underutilized suppliers through increased market reach and efficiency.
firm of PriceWaterhouseCoopers has been selected to assist in the
development of the exchange and the selection of the technology