Hampton, NH -- June 4, 1999: Unitil Resources, Inc., (URI) a subsidiary of Unitil Corporation (AMEX:UTL), announced the acquisition of sales responsibility for North American Power’s (NAP) New York State based customer accounts in an expanded partnership between the two firms. The purchase involves over 250 customer accounts using the NAP world wide Retail Energy Exchange, (REX) to buy gas and electricity. The accounts range from small businesses to Fortune 500 firms located in northern and western New York.
Under the partnership, URI will provide the sales, customer service and energy procurement services for these New York customers under the trade name Usource. North American Power is forging relationships with partners such as Unitil to expand its operations across the US as well as internationally. North American Power has made a firm commitment to continue to expand the capabilities of its REX technology enabling partners such as Unitil to better serve their markets.
"I’m very pleased to be doing business with some old friends I knew as President of The New York Power Authority" (said Unitil CEO Robert G. Schoenberger) "I have worked with many of these customers and look forward to using the innovative REX technology to give them the best value for their energy dollar."
Unitil plans to be aggressive in acquiring additional customers in New York State and also plans to be active in Massachusetts, Vermont, Maine and New Hampshire starting in July.
Unitil recently licensed access to REX, and also owns a minority interest in North American Power.
North American power, which is a finalist in the 1999 Computerworld Smithsonian award for outstanding uses of information technology, developed the REX system to connect buyers and sellers of energy in Internet auctions. Customers purchasing natural gas using REX have saved between 10 - 19% on their gas commodity costs. Customers will use the system to purchase electricity as these markets open up nationwide and North American Power is planning the expansion of its network to manage fuel oil, coal and other energy transactions. Customer and suppliers see the REX as a simple, no hassle way to buy and sell energy commodities.
Unitil is a public utility holding company with subsidiaries providing electric service in New Hampshire, electric and gas service in Massachusetts and energy services throughout the region. Its subsidiaries are Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp., Unitil Resources, Inc. and Unitil Service Corp. North American Power Brokers, Inc. is a privately held company headquartered in Maynard, MA. (www.EnergyAgent.com).
Those interested in becoming a Usource customer can do so on the web at www.unitil.com or by calling Todd Black, Vice President of Sales and Marketing at Unitil at1-888-686-4845.
Contact
Todd Black
black@usourceonline.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
