|
CARMEL, Ind., Aug. 18 /PRNewswire/ -- ACES Power Marketing (APM) - a
nationally recognized wholesale energy risk management and transaction
execution service company - has executed an agreement with independently-owned
Pennsylvania Renewable Resources Associates (PRRA) to provide a suite of
services to PRRA's hydroelectric generating facility in the PJM market. PRRA
is APM's first independent power producer (IPP) customer in PJM as well as its
first renewable resource customer in that market.
In markets across the U.S., APM provides its services to a wide variety of
energy industry participants - cooperatives, municipal and public power
utilities, investor-owned utilities, financial institutions, industrial
customers, and IPPs and renewable resource providers like PRRA.
The services that APM will provide to PRRA include power scheduling,
assistance in the PJM capacity auctions, and assistance with evaluating and
developing strategies around Renewable Energy Credits (RECs). APM will also be
helping PRRA to develop and implement a state-of-the-art trading control
environment around its market activities.
"APM responded quickly and expertly to our need to transition to new risk
management services," said Jeffrey Kossak, President of PRRA. "We have been
very impressed with their knowledge and professionalism."
"This transaction highlights a couple of important facts about APM," said
Jennifer Perrenot, APM Director of Business Development. "We can provide
targeted risk management services to a client with specific outsourcing needs,
and our services can support the rapidly growing renewable energy segment of
our industry."
ACES Power Marketing, headquartered in Carmel, Indiana, began its
operations in February of 1999 and is owned by fifteen generation and
transmission cooperatives and one distribution cooperative. It also provides
services to dozens of customers including cooperatives, municipals, irrigation
and public water agencies, financial institutions, industrial companies and
independent power producers.
APM's business strategy is unique in the energy marketing and trading
industry. It operates as an energy risk management and hedge manager,
developing strategies, implementing trading controls, and managing transaction
execution for multiple entities as their legal agent. APM's business process
allows its customers to actively participate in the hedging strategy by
collectively utilizing APM's infrastructure and resources to assess risks and
execute specific, customized portfolio strategies. APM does not transact for
its own account, nor does it speculate in the market for its owners or
customers.
Pennsylvania Renewable Resources Associates (PRRA) is a Pennsylvania
limited partnership with principal executive offices at 730 Fifth Avenue,
Suite 1901, New York, New York 10019. PRRA owns a hydroelectric facility on
the Conemaugh River in Pennsylvania with a nameplate capacity of 15 MW.
Questions for ACES Power Marketing can be directed to John Sturm, Vice
President of Corporate Development, at 317-344-7034 or johnst@acespower.com .
Questions for PRRA can be directed to Jeffrey Kossak, President at
212-245-2721 or arlingtonny@aol.com .
SOURCE ACES Power Marketing
|
