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Press CenterFERC Approves Multiparty APX Settlement Resolving Matters Related to the Western Energy CrisisSanta Clara, CA - March 7, 2007 - APX is very pleased to announce that the Federal Energy Regulatory Commission (FERC) has approved a comprehensive settlement facilitated by APX among approximately 30 entities, mainly energy companies, who participated in the California Power Exchange and the CAISO energy markets from May 1, 2000 through June 30, 2001. APX is proud to have taken a leading role, along with FERC and the United States Court of Appeals for the Ninth Circuit, in bringing together the parties involved who ultimately reached an agreement among themselves, now approved by FERC. These parties include many of the largest names in the energy business, including both buyers and sellers of power in the California market. APX was able to use its position as a data source to calculate fair and equitable adjustments, and APX’s ability to provide the facts regarding power scheduled at the time enabled the parties to reach agreement and resolve their obligations and entitlements with respect to each other. Under the settlement, APX will be acting in an administrative role responsible for collecting and distributing funds between parties. APX is not adversely impacted financially by the settlement, nor does it benefit financially from the current settlement. APX is not a trader, a broker, or a buyer or seller of electricity. Rather, APX performed administrative functions for the California energy market, submitting energy schedules, offers, and bids to the California Independent System Operator (CAISO) and California Power Exchange (CalPX) on behalf of clients. As a result, APX was able to assist the parties in calculating equitable adjustments on both sides, and create a settlement agreement that was agreed upon by all buyers and sellers, and approved by both FERC and the United States Court of Appeals for the Ninth Circuit. “We are pleased that APX could facilitate this agreement, which ultimately benefits all parties including load serving entities, marketers, municipalities, generators, and rate payers,” said Tom Lewis, Chairman and CEO of APX Inc. Today, APX is still a leading service provider to power market participants in California and other US markets, with hosted technology and services for power scheduling and settlement. Other parties in the APX settlement include: American Electric Power Service Corp.; Avista Energy Inc.; Calpine Energy Services LP; El Paso Marketing LP (f/k/a El Paso Merchant Energy LP); UC Davis Medical Center, owned and operated by the Regents of the University of California; Merrill Lynch Capital Services Inc.; BP Energy Co.; Tractebel Energy Marketing Inc. (n/k/a Suez Energy Marketing NA Inc.); Aquila Merchant Services Inc.; Salt River Project Agricultural Improvement and Power District; Allegheny Energy Supply Company LLC; TransAlta Energy Marketing (US) Inc.; Sempra Energy Solutions LLC; Constellation NewEnergy Inc.; Commonwealth Energy Corporation (n/k/a Commerce Energy Inc.); Sacramento Municipal Utility District; Morgan Stanley Capital Group Inc.; Enron Energy Services Inc. (EESI) and Enron Power Marketing Inc. (EPMI, and together with Enron Energy Services Inc., Enron or Enron Parties); Sierra Pacific Industries; ACN Power Inc.; Consumer Telcom Inc. (f/k/a Clean Earth Energy Inc.); Duke Energy Shared Services Inc. (f/k/a Cinergy Services Inc.); FPL Energy Power Marketing Inc.; Midway Sunset Cogeneration Co.; NRG Power Marketing Inc.; Preferred Energy Services Inc. (d/b/a GoGreen); Powersource Corp.; Torch Operating Co.; and Turlock Irrigation District. Coral Power LLC, Puget Sound Energy Inc. and Avista. About APX, Inc. Contact:
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